All A-share listed Chinese airlines have released their Q1 financial reports, with Spring Airlines once again topping the list in net profit, making it the most profitable listed airline in mainland China for the first quarter.
Alongside Juneyao Airlines, Hainan Airlines, and China Express Airlines, all four non-state-owned carriers reported profits.
However, excluding China Express, all passenger airlines saw year-on-year declines in net profit. The rankings by net profi/loss are as follows:
*Spring Airlines: Operating revenue of RMB 5.317 billion (about USD 736.43 million), up 2.88% YoY; net profit of RMB 677 million (about USD 93.77 million), down 16.39% YoY.
*Juneyao Airlines: Operating revenue of RMB 5.722 billion (about USD 792.52 million), up 0.05% YoY; net profit of RMB 345 million (about USD 47.78 million), down 7.87% YoY.
*Hainan Airlines: Operating revenue of RMB 17.601 billion (about USD 2.438 billion), up 0.29% YoY; net profit of RMB 272 million(about USD 37.67 million), down 60.34% YoY.
*China Express Airlines: Operating revenue of RMB 1.774 billion (about USD 245.71 million), up 9.78% YoY; net profit of RMB 81.9768 million (about USD 11.35 million), up 232.31% YoY.
*China Southern Airlines: Operating revenue of RMB 43.407 billion (about USD 6.012 billion), down 2.68% YoY; net loss of RMB 747 million (about USD 103.46 million), compared to a net profit of RMB 756 million in the same period last year.
*China Eastern Airlines: Operating revenue of RMB 33.406 billion (about USD 4.627 billion), up 0.65% YoY; net loss of RMB 995 million(about USD 137.81 million), compared to a net loss of RMB 803 million in the same period last year.
*Air China: Operating revenue of RMB 40.023 billion (about USD 5.543 billion), down 0.11% YoY; net loss of RMB 2.044 billion (about USD 283.10 million), compared to a net loss of RMB 1.674 billion in the same period last year.
