Shanghai-based Juneyao Airlines reported a first-quarter net profit of CNY454.2 million ($70 million), up 70% over a net income of CNY266.5 million in the year-ago quarter. Operating revenue rose 30.4% year-over-year (YOY) to CNY2.55 billion while operating expenses increased 30.6% YOY to CNY1.79 billion. The carrier credited the “robust growth of market demand” as the main reason for the much-improved financial performance. Industry analysts also cited lower fuel ...

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