[photopress:hainan_air.jpg,full,alignright]Hainan Airlines, a Chinese carrier backed by United States billionaire George Soros, expects to increase sales at least 15% this year.
Chairman Chen Feng said, ‘China is a very big market and the aviation industry keeps growing.’ Last year, China’s fourth-largest carrier by fleet size posted sales of RMB12.4 billion ($1.6 billion).
The combined sales of the nation’s airlines increased 11% to 21.1 billion in May from a year earlier according to the General Administration of Civil Aviation.
Jack Xu, a Shanghai-based analyst at Sinopac Securities Asia said, ‘People are getting richer and there will be more demand for travel in the future.’ Which is a perceptive but, perhaps, not original remark.
Passenger traffic in China will is estimated to increase at an average annual rate of 7.2% until 2025.
Source: Shanghai Daily
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