THE Civil Aviation Administration of China (CAAC) has announced air industry-wide revenue increased to CNY21.08 billion (US$2.7 billion) in May, up 10.9 per cent year on year, reports Logistics Week.
Major carriers such as Air China, China Southern Airlines, China Eastern Airlines, Hainan Airlines and Shenzhen Airlines all increased profits in May.
The strong performance was credited to a fall in oil costs after China Aviation Oil Corporation cut prices by CNY90 per ton, the third such cut this year.
The domestic air industry saw cargo/mail volume of 306,000 tons, up 16.1 per cent and passenger volume rise to 15.46 million, an increase of 19.4 per cent. Volume of international cargo grew 12.2 per cent, meaning an extra 18,000 tons compared to the same month a year ago.
CAAC says growth in China's international cargo was a result of the capacity expansion of the Great Wall Airlines and Jade Cargo.
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