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Aviation industry sees profits shrink

(Global Times)

08:11, May 08, 2012

The revenues of China's aviation industry, including airline companies and airports, grew by 21.2 percent year-on-year in 2011 to reach 500.1 billion yuan ($79.4 billion), while the industry's overall profits dropped by 13.9 percent year-on-year during the same period to 36.3 billion yuan, the Civil Aviation Administration of China (CAAC) reported Monday.

Specifically, airlines and airports in China saw their annual profits fall by 17.7 percent and 16.8 percent year-on-year respectively in 2011, according to the CAAC.

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