China National Aviation Company sees surge of profit

Though the competition within aviation industry is getting more intense, China National Aviation Company Ltd. has achieved an outstanding profit in 2004, said the company's chairman Kong Dong in Hong Kong Friday.

Being the company directly-owned by Air China, its air transportation businesses include Hong Kong Dragon Airlines Ltd. and Air Macao Company Ltd. Besides, it owns an aviation catering business composed of three catering companies including Beijing Air Catering Ltd.

Kong Dong said the company's turnover of 2004 reached 1.87 billion Hong Kong dollars, up 52.5 percent year-on-year.

Kong Dong expected that the opening of Disneyland, the thriving tourism industry of Macao and the rapid economic development of the Chinese mainland will be a impetus for the business expansion of the company.

Talking about the competition of aviation industry, Kong Dong said the competition situation is a legacy of history. He hoped to develop a healthy competition with other aviation companies.

Source: Xinhua