Spring Airlines profit leaps 83% in Q1-Q3 of 2015
Spring Airlines saw 13% increase in revenue in the first three quarters of this year, to RMB6.325 billion, and net profit attributable to shareholders skyrocketed 83% to RMB1.202 billion. Basic earnings per share were RMB3.09.
Spring Airlines saw 13% increase in revenue in the first three quarters of this year, to RMB6.325 billion (approx: US$997 million), and net profit attributable to shareholders skyrocketed 83% to RMB1.202 billion (approx: US$189 million). Basic earnings per share were RMB3.09.
Spring Airline's website
The low-cost carrier’s non-operating income grew as a result of an increase in income from subsidies for air routes in the period, while net cash-flow generated from operations rose as a result of increased revenue from product sales and services provided, according to its Q3 financial report.
The carrier’s average load factor for the first three quarters also went up by 0.73 percentage points to 93.8%. The load factor for the international air routes increased more sharply than others.
Spring Airlines launched 24 international air routes in the first three quarters of 2015, with 16 routes to Japan, four routes to Korea and four routes to Southeast Asia. Japan was its fastest growing international market, as the carrier transported 340,000 passenger trips on the Japan routes in the first three quarters, up 186% y-o-y, and the load factor was 89.53%.
Spring Airlines plans to have a fleet of 55 aircraft by the end of 2015. The fleet will be further expanded to 58 aircraft by the 2016 Spring Festival peak season. The additional capacity will be deployed on its international air routes, and will be used on the domestic routes to cater to the potential traffic surge during the opening of the Shanghai Disney Resort.(Translation by David)