Shandong Airlines reported a 2013 net profit of CNY389.08 million ($63.2 million), down 34% compared to a net income of CNY589.81 million in 2012. Operating revenue rose 4% to CNY11.427 billion while operating expenses increased 7.85% to CNY11.174 billion. The Jinan-based carrier cited the slowdown of economic growth and cheaper airfares resulting from intensifying competition as main reasons for the sharp profit decline. Passenger boardings climbed 12.08% to 14.04 million with an average ...

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