Dropping fuel prices boost airline profits

Declining oil prices have helped China's three largest airlines to collective net first-half profits of 10.98 billion yuan ($1.73 billion) - already higher than their total profits last year.

China Southern Airlines Co Ltd delivered 3.48 billion yuan in net profit during the six months, a 429.14 percent year-on-year rise.

Its first half figures followed on from Air China Co Ltd, which reported 3.94 billion yuan in first-half profit, a 730.05 percent rise, and China Eastern Airlines Corp Ltd, whose 3.56 billion yuan profit represented a 236 percent increase.