China leads global aviation earnings

China has become the world's biggest aviation profit source. The country’s airlines brought in a total of RMB 26 billion net profit (about US$4.1 billion) in 2011, reported Guangzhou Daily.

This number accounts for nearly 60 percent of the worldwide aviation net profit, which was estimated to be US$ 6.9 billion by the International Air Transport Association (IATA).

It’s also roughly four times the European output and twice as much as what U.S. airlines were expected to earn for the same period of time, according to the same report.

China's aviation will keep growing

Surprisingly, this was achieved when China was experiencing an aviation downturn due to fuel price hikes and the launch of more high-speed railways in China.

Statistics from the Civil Aviation Administration of China (CAAC) suggested that the nation’s airlines profited 26 percent less than 2010 and its cargo volume has shrunk two percent, to 5.5 million tons.

However, overall passenger loads increased in China last year by 8.2 percent, reaching 290 million.

Chinese industry experts claimed that the country’s aviation industry will definitely surge in 2012.

Luo Zhuping (罗祝平), director and secretary of China Eastern Airline, told China National Radio that China’s domestic aviation is undergoing a steady growth period due to the high demand of outbound traveling as well as a large number of trips to west China.

China aviation’s profit will keep rising in 2012, and small and private-owned carriers, such as Spring Airlines, will experience a profit leap alongside the country's four major carriers, Air China, China Southern, China Eastern and Hainan Airlines, added Luo.

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