China Express Q1 net profit up 6.3% growth of business scope, demand
China Express Airlines reported a 2018 Q1 net profit of CNY82.3m (US$13m), up 6.3% compared to net income of CNY77.4m in the year-ago quarter. Operating revenue jumped 35.4% year-over-year to CNY991.3m against a 43.5% YOY increase in operating expenses to CNY798.3m. The carrier credited its business scope expansion and continuous domestic market demand growth as main reasons for the results. However, industry analysts pointed out govt subsidies also played a role as Chinese domestic carriers are collectively experiencing financial difficulties on regional route operations because of higher operating expenses, lower load factors and more taxes. China Express, which received CNY105m in govt subsidies from January to March, did not release traffic figures for the quarter. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-05-10/unaligned/china-express-q1-net-profit-up-6-3-growth-of-business-scope-demand
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China Express Q1 net profit up 6.3% growth of business scope, demand
China Express Airlines reported a 2018 Q1 net profit of CNY82.3m (US$13m), up 6.3% compared to net income of CNY77.4m in the year-ago quarter. Operating revenue jumped 35.4% year-over-year to CNY991.3m against a 43.5% YOY increase in operating expenses to CNY798.3m. The carrier credited its business scope expansion and continuous domestic market demand growth as main reasons for the results. However, industry analysts pointed out govt subsidies also played a role as Chinese domestic carriers are collectively experiencing financial difficulties on regional route operations because of higher operating expenses, lower load factors and more taxes. China Express, which received CNY105m in govt subsidies from January to March, did not release traffic figures for the quarter. <br/>
