China’s major airlines report strong revenue gains in 1Q2011

China’s three major carriers reported strong revenue gains in 1Q2011, based on Chinese Accounting Standards, although only China Eastern Airlines reported net profit improvements. Air China and China Southern Airlines both reported declines in their net profit due to one-time exceptional gains during 1Q2010. All the Chinese carriers that have reported 1Q2011 financial results to-date, including Hainan Airlines and Shandong Airlines, have reported positive net and operating profit margins. [1461 words]

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This report contains the following subheadings:

• China Eastern Airlines 1Q2011 profit up 32% 
• China Southern 1Q2011 net profits decline 13%
• Air China 1Q2011 net profits decline 23%
• Hainan Airlines reports 8% growth in net profit
• Shandong Airlines revenue and profits surge in 1Q2011

This report contains the following charts and tables:

• Air China, China Eastern, China Southern, Hainan Airlines and Shandong Airlines operating profit margin and net profit margin: 1Q2011 (Based on Chinese Accounting Standards)
• CAAC monthly passenger and cargo volume growth: Jan-2009 to Mar-2011
• China Eastern Airlines revenue jump 17% - financial highlights for the three months ended 31-Mar-2011 (according to Chinese Accounting Standards)
• China Southern Airlines revenue up 22% - financial highlights for the three months ended 31-Mar-2011 (according to Chinese Accounting Standards)
• Air China revenue surge 45% - financial highlights for the three months ended 31-Mar-2011 (according to Chinese Accounting Standards)
• Hainan Airlines revenue up 23% - financial highlights for the three months ended 31-Mar-2011 (according to Chinese Accounting Standards)
• Shandong Airlines revenue surge 36% - financial highlights for the three months ended 31-Mar-2011 (according to Chinese Accounting Standards)