Chinese airlines profits soar

Statistics from the Civil Aviation Administration of China (CAAC) show that Chinese airlines profits grew more than 10 times to 9.9 billion yuan for the first quarter ended March 31, 2015, compared to 980 million yuan for the year-ago period. Turnover volume grew 14.4% to 20.04 billion tonne-kilometers in the first quarter. Passenger traffic turnover was up 12% to 165.99 billion passenger-kilometers, with Available Seat Kilometer (ASK) up by 11.6% to 200.93 billion passenger-kilometers. Passenger Load Factor increased 0.3 percentage points year on year to 82.6%. In total, Chinese carriers total operating revenue rose by 5.8% to 104.87 billion yuan