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Chinese airlines suffers RMB 1.37-bln loss in May

Jun. 18, 2012 (China Knowledge) - Chinese airlines booked a loss of RMB 1.37 billion last month, although demand for air cargo services rebounded, according to data from the Civil Aviation Administration of China.

In April, air carriers in China realized RMB 1.84 billion of gross profit after suffering losses in February and March.

The country's air passenger volume grew only 5.5% YoY to 25.4 million in May. The grow rate was the lowest level in eight months as air passengers on international flights continued to fall amid weak demand.

China's cargo and mail throughput climbed 0.6% YoY to 450,000 million metric tons last month.

In 2011, Chinese airlines earned a net profit of about RMB 26 billion, down 26% from RMB 35.1 billion in 2010, according to figures released by the International Air Transport Association.

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