Juneyao Airlines has reported a first-half net income of CNY191 million ($31 million), citing the robust growth of domestic market demand. First-half operating revenue was CNY3.19 billion, although the airline received a government subsidy of CNY57.1 million during the first half. Juneyao did not release figures for its first-half operating expenses or net income for the previous fiscal year. All of China’s “big three” carriers—Air China, China Eastern and China Southern – have all reported either sharp profit declines or losses due to exchange losses due to a weakening yuan. Juneyao reported first-half exchange losses of CNY23.07 million. Air China’s

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