Airlines weather downturn

Chinese airlines have weathered the financial maelstrom without too much turbulence, with the latest statistics indicating a profitable year for the air transport industry.

By November, the industry, including both airlines and airports, netted total profit of 11.8 billion yuan, according to statistics released yesterday by the Civil Aviation Administration of China (CAAC) on its website.

By comparison, the industry had lost 28.2 billion yuan last year and globally, the International Air Transport Association (IATA) has forecast a loss of $11 billion for the industry this year.