Shanghai-based Spring Airlines reported a net profit of CNY950.5 million ($138 million) for 2016, down 28.4% compared with the 2015 net income of CNY1.3 billion. Operating revenue rose 4.2% to CNY8.4 billion, but costs increased 13.7% to CNY7.4 billion. Industry analysts cited “rising fuel expenses and the exchange losses” and “the decrease in yields on international routes” as main reasons for the low cost carrier’s (LCC) performance. Spring’s net ...

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