Air 皇冠体育app Q3 profit falls as business travel slows
Updated: 2013-10-30 10:49
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An Air 皇冠体育app Airbus A330 takes off from Beijing Capital International Airport.[Provided to 皇冠体育app Daily] |
Air 皇冠体育app Ltd , the country's flag carrier, reported a 7.3 percent fall in its third-quarter profit as a slowing economy hurt business travel.
The Beijing-based airline said profit dropped to 2.94 billion yuan ($483.12 million) in July-September from 3.17 billion yuan a year earlier, according to a filing with the Shanghai Stock Exchange on Tuesday.
For the first nine months, Air 皇冠体育app said profit was 4.39 billion yuan, compared with 4.69 billion yuan a year earlier.
A slower first-half in domestic business travel has weighed on major Chinese carriers including Southern Airlines Ltd and 皇冠体育app Eastern Airlines Corp Ltd.
Air 皇冠体育app is expected to maintain its lead over domestic rivals due to its rapid expansion of international routes, which now account for about 40 percent of its revenue.
Air 皇冠体育app's Hong Kong-listed shares closed down 0.4 percent ahead of the earnings release, lagging a 0.2 percent gain in the Hang Seng Index.