China's Aviation Industry Reduces Losses in First Half of 2002

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Last updated at: (Beijing Time) Thursday, July 25, 2002

China's Aviation Industry Reduces Losses in First Half of 2002

China's civil aviation industry made a total income of 47.28 billion yuan (about 5.71 billion US dollars) in the first half of 2002, up 6.9 percent compared with the same period last year.

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China's civil aviation industry made a total income of 47.28 billion yuan (about 5.71 billion US dollars) in the first half of 2002, up 6.9 percent compared with the same period last year.

Losses worth some 820 million yuan (100 million dollars) were reduced over a year earlier.

During the first six months, China's total aviation turnover grew 15.7 percent to 7.54 billion ton kilometers, and passenger numbers increased 14.4 percent to 39.89 million, according to figures from civil aviation industry senior officials and managersmeeting in Beijing on Thursday.

The total cargo handled in the first six months was 926,000 tons, 18.2 percent up from the previous year.

The market growth should be attributed to optimizing air routes,supervision of the aviation market and re-allocating resources, said Yang Yuanyuan, director of General Administration of Civil Aviation of China (CAAC).

Yang said CAAC would further regulate China's aviation market and boost its economic benefits.

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