Manufacturing News

Civil aviation sector fully recovers in first quarter

Operations of China's civil aviation sector have fully recovered and larger breakthroughs are expected in the domestic market in April and May.

The number of domestic passengers in China's civil aviation sector increased by 17 percent year-on-year in the first quarter of this year, with airlines turning losses into gains, achieving a total profit of 800 million yuan by preliminary calculations. These results lead to the judgment that operations of China's civil aviation sector have fully recovered and larger breakthroughs are expected in the domestic market in April and May, noted Li Jiaxiang, Director General of the Civil Aviation Administration of China, at the 5th China-US Aviation Symposium held on April 8.
 
There has been strong demand in passenger transport in China's domestic civil aviation market starting this year. The number of domestic passengers traveling in the first three months of this year increased by 21 percent, 13 percent and 14 percent respectively year-on-year, back to double-digit increases for the first time since March 2008. Operations of the overall civil aviation sector are notably taking a turn for the better, although the amount of cargo transported and the number of international passengers transported are on the decrease year-on-year. All of the domestic airlines have started to exit the downturn and made profits in the first quarter of this year despite the fact that China's civil aviation industry lost a total of 25.2 billion yuan in 2008.
 
According to Li's analysis, a good momentum in the domestic passenger transport market reveals that China's economic stimulus plans, especially policy measures adopted to boost domestic demand, have already shown some results in the civil aviation sector. The improvement in airline operations has benefited from both the recovery of the domestic passenger transport market and depressed oil prices which have also lowered enterprises' operating costs easing pressures on them. If oil prices still fluctuate around the current level, airlines are expected to have optimistic operating results for the entire year, said Li.
 
In addition, at the symposium Li and Leocadia I. Zak, Acting Director of the US Trade and Development Agency, also signed a grant agreement as well as a Memorandum of Understanding on environment protection for the US-China Aviation Cooperation program.

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