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Chinese airlines tipped for record profits on tourism boom

03/26/2018| 10:03:13 AM|

China's three airlines are likely to report their strongest annual profits, as soaring travel demand and foreign exchange gain more than make up for a drop in income-per-passenger and the rising cost of fuel.

Analysts estimate China Southern Airlines, the country's largest carrier by passenger numbers, will report net income on Monday of about 6.4 billion yuan (USD 1.01 billion), its highest in 11 years as a listed firm, showed data from Thomson Reuters.

Later in the week, Air China is expected to report its biggest profit since 2010, and China Eastern Airlines is forecast to book its best result since at least 1996.

Driving profit is a tourism boom which saw more than 5 billion domestic trips made last year, 12.8 percent over 2016, plus 129 million overseas trips, up 5.7 percent, showed data from the China National Tourism Administration.

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TAGS: China Eastern | China Southern | Air China
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