Chinese carriers posted a collective profit of CNY900 million ($118.7 million) in the first four months of 2007, reversed from a net loss of CNY4 billion in the year-ago period, according to CAAC statistics. CAAC cited an "effective cost-saving" policy as the main reason for the improved performance. Industry turnover rose 19.6% year-over-year, compared to an annual growth rate of 14% forecast by the body for the 2006-10 period. China's civil aviation authority conceded that the country's ...

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