50 SKY SHADES - World aviation news

China’s Spring Airlines’ 1H profit climbs 129%

Download: Printable PDF Date: 27 Aug 2015 03:14 categories:
China’s Spring Airlines’ 1H profit climbs 129% - Finance publisher
Tatjana Obrazcova
Source: ATW

hanghai-based low cost carrier Spring Airlines has reported a net profit of CNY619.5 million ($97 million) for the first half of 2015, up 129% over the CNY270.8 millionfor the same period the previous year.

Operating revenue was up 15% to CNY3.95 billion, while operating costs increased 2.8% to CNY3.1 billion.

The airline credited lower fuel prices and “robust growth in market demand” as the main reasons for the performance.

Passenger boardings increased 15% to 6.3 million with an average load factor of 94%, a 1 percentage point improvement over the year ago period. Passenger revenue grew 23% to 10.64 billion RPKs versus a 22% increase in passenger capacity to 11.35 billion ASKs. Cargo traffic volume increased 5% to 23,700 tonnes.

Looking ahead, Spring noted that it expects to carry 13.6 million passengers this year. It also plans to continue to open more new routes, including Nagoya, Jeju and other neighboring Asian cities.

Spring operates from three domestic overnight bases at Chinese secondary cities -- Shenyang, Shijiazhuang and Shenzhen – as well as from its main operating base of Shanghai.

The carrier is scheduled to take delivery of five Airbus A320s in the second half and will place three of those aircraft on international Asian routes.

Loading comments for China’s Spring Airlines’ 1H profit climbs 129%...


The international call for applications for Leonardo Labs is opened

Leonardo has started its recruitment call for young talents for “Leonardo Labs”, the new research & development corporate laboratories focused on innovation in Leonardo's tradition...

What demands more maintenance, a parked aircraft or a flying one

In the middle of April, airlines around the globe had put 62% of worldwide aircraft fleet into storage, which brought new challenges of maintaining a record high number of stored aircraft. While it ma...

Game-Changing Piston Engine RED A03 Selected by PRO-Avia For Twin Engine Aircraft

RED Aircraft GmbH has just announced that its RED A03 Engine has been incorporated at the design stage of PRO-Avia’s new twin-engine aircraft. PRO-Avia is a Russian company engaged in the implem...

50 percent of the fleet back in the air: Lufthansa Group

Due to the significant changes in the booking wishes of their passengers, the airlines in the Lufthansa Group are switching from short-term to longer-term flight planning and are now completing their...