Subscribe free to our newsletters via your
. 24/7 Space News .




Subscribe free to our newsletters via your




















AEROSPACE
Higher fuel costs pressure Chinese airline profits
by Staff Writers
Shanghai (AFP) Aug 30, 2017


Asia's biggest carrier China Southern Airlines said higher jet fuel costs clipped its profit in the first half, while China Eastern earnings rose but only with the help of a one-off asset sale.

Net profit at state-owned China Southern dropped 11.1 percent year-on-year to 2.77 billion yuan ($420 million) in January-June, the carrier said late Tuesday in a statement to the Hong Kong stock exchange, where it is listed.

Its bottom line was hit by a more than 30 percent rise in operating expenses due to higher jet fuel costs, which offset revenue gains, the Guangzhou-based airline said.

Chinese carriers have benefitted from a boom in domestic and international air trips as China's middle class spends more on travel and leisure.

China Southern said its total operating revenue increased 11.7 percent in the first half, to 57.82 billion yuan.

China Southern's shares jumped 4.74 percent in Hong Kong Wednesday and were 5.81 percent higher in Shanghai, where the company also is listed.

China Eastern said in an exchange statement that its net profit for the first half jumped 34.4 percent to 4.34 billion yuan, but that was due to 1.9 billion yuan earned through the sale of a logistics subsidiary.

The Shanghai-based carrier's jet fuel expenses surged 45 percent.

"The international crude oil prices have increased significantly from a lower comparison base in the same period last year," China Eastern said, adding that intensifying industry competition resulted in a drop in revenue from its international routes.

However, strong demand boosted operating revenue nearly 10 percent.

China Eastern said in July it will buy a 10 percent stake in Air France-KLM for about 375 million euros (then $438 million) as it moves to expand its network in Europe.

Shares of China Eastern rose 3.78 percent in Hong Kong and up 2.43 percent in Shanghai.

AEROSPACE
France and Germany announce new joint fighter program
Washington (UPI) Jul 14, 2017
France and Germnay announced they are planning to develop a new joint fighter plane following a French-German cabinet meeting Thrusday. French president Emmanuel Macron and German Chancellor Angela Merkel announced the plan at a news conference following the meeting. The two leaders also confirmed their countries committment to the "Euro-drone" program and other defense and economic pro ... read more

Related Links
Aerospace News at SpaceMart.com

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

AEROSPACE
'Gifted' high-tech takes spotlight at Berlin's IFA fair

NASA Offers Space Station as Catalyst for Discovery in Washington

Forty years on, Voyager still hurtles through space

ISS Orbit Increases Almost 2,000 Feet After Adjustment Maneuver - Control Center

AEROSPACE
ISRO Develops Ship-Based Antenna System to Track Satellite Launches

Falcon 9 launches from Vandenberg

SpaceX launches Taiwan's first home-built satellite

Indian Space Agency, Israeli counterpart to formalize strategic collaborations

AEROSPACE
For Moratorium on Sending Commands to Mars, Blame the Sun

Tributes to wetter times on Mars

Opportunity will spend three weeks at current location due to Solar Conjunction

Curiosity Mars Rover Begins Study of Ridge Destination

AEROSPACE
ESA and Chinese astronauts train together

To boldly go where no startup has gone before

China's satellite sends unbreakable cipher from space

Xian Satellite Control Center resolves over 10 major satellite faults in 50 years

AEROSPACE
ASTROSCALE Raises a Total of $25 Million in Series C Led by Private Companies

LISA Pathfinder: bake, rattle and roll

Bids for government funding prove strong interest in LaunchUK

Blue Sky Network Reaffirms Commitment to Brazilian Market

AEROSPACE
Clamping down on causality by probing laser cavities

Rare-metals in the Himalayas: The potential world-class treasure

Why does rubbing a balloon on your hair make it stick?

Making 3-D printing safer

AEROSPACE
A New Search for Extrasolar Planets from the Arecibo Observatory

Gulf of Mexico tube worm is one of the longest-living animals in the world

Molecular Outflow Launched Beyond Disk Around Young Star

Scientists take first snapshots of a molecular propeller that runs at 100 degrees Celsius

AEROSPACE
New Horizons Video Soars over Pluto's Majestic Mountains and Icy Plains

Juno spots Jupiter's Great Red Spot

New evidence in support of the Planet Nine hypothesis

Scientists probe Neptune's depths to reveal secrets of icy planets




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement