Press: China air industry shows H1 losses

China’s airlines posted a combined loss of 2.5 bln yuan in the first half, due to surging prices of jet fuel, the Shanghai Securities News reported. The newspaper quoted an unidentified official at the General Administration of Civil Aviation of China (CAAC) as saying that the airports in China booked profit of 1.5 bln yuan during the period.

The official did not provide details, the report said.

The National Development and Reform Commission, the country’s top planning agency, has raised jet fuel prices twice this year, by a total of 730 yuan per ton to 6,020 yuan.

The entire aviation sector - including carriers, airports and other service providers to the industry - booked total losses of 1.34 bln yuan in the first quarter.
——-