China’s big three carriers—Air China, China Southern and China Eastern—have all reported big first-quarter profit increases as a result of stable market demand growth and lower fuel prices. Beijing-based Air China posted first-quarter net income of CNY2.44 billion ($377 million), up 45% over a net profit of CNY1.68 billion in the year-ago quarter. Operating revenue rose 4.4% to CNY26.39 billion while operating expenses decreased 0.09% to CNY23.15 billion. Guangzhou-based ...

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