Chinese carriers reported a net income of CNY640 million ($103.7 million) in May, up 152% compared to a net profit of CNY254 million year-over-year. Operating revenue dropped 4% to CNY29.5 billion while operating expenses rose 2% to CNY26.8 billion. Industry analysts said the increase was due to the exchange rate gain resulting from yuan appreciation; domestic airlines saw an exchange gain of CNY1.6 billion in May. Passenger boardings climbed 12.1% to 28.6 million with an average load ...

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