China's civil aviation
industry saw profits jump to more than nine billion yuan (US$1.15
billion) in the first 11 months this year, a rise of 50 percent
over the same period last year, despite huge losses in the first
half, said a senior official on Tuesday.
High jet fuel prices led to losses of 640 million yuan
(US$82 million) in the aviation industry in the first six months,
but the industry recovered to post profits from the third quarter
as the government allowed a fuel surcharge on customers by airline
companies.
Chinese airline companies earned profits of 4.73
billion yuan (US$600 million) from January to November, up 2.14
billion yuan (US$274 million) from a year ago, said Yang Yuanyuan,
director of the General Administration of Civil Aviation of China
(CAAC) on Tuesday.
Air China recorded the highest profit of all airline
companies, with 3.97 billion yuan (US$509 million) in the first 11
months, said Yang at the year-end work meeting of the
industry.
Yang said Chinese airlines would carry 160 million
passengers in 2006, up 15.9 percent over last year.
(Xinhua News Agency December 27, 2006)
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