Chinese airlines H1 profits reach $1.7bn

The big four listed Chinese mainland-based airline companies saw profits total 10.82 billion yuan ($1.70 billion) in the first half of the year, accounting for over half of the domestic air industry's profits during the period, Global Times reported. Air China reported a profit of 4.06 billion yuan, down 13.44 percent year-on-year, due to slashed revenue from international routes. Hainan Airlines earned 557 million yuan in profit, up 62.9 percent; China Southern Airlines 2.75 billion yuan, up 32.71 percent; and China Eastern Airlines 2.45 billion yuan, up 26 percent year-on-year. This is in contrast to the global air industry, which saw a loss of $800 million in the period, the newspaper said.