(Yicai) Aug. 15 -- Chinese carrier Juneyao Airlines reported a more than six-fold leap in net profit in the first half of this year thanks to an increase in overall travel demand and recovery in international routes.

Net profit surged 509 percent to CNY489 million (USD68.3 million) in the six months ended June 30 from a year earlier, the Shanghai-based airline announced yesterday. Revenue jumped 17 percent to CNY11 billion (USD1.5 billion).

Juneyao Airlines' domestic revenue rose 6.5 percent to CNY8.7 billion (USD1.2 billion), while international one nearly doubled to CNY2.2 billion (USD300 million). Income from Hong Kong, Macau, and Taiwan jumped over 10 percent to CNY135 million.

The growth in net profit was driven by increased travel demand during holiday periods, such as the Chinese New Year holiday in February, as well as new and restored international routes, Juneyao Airlines pointed out.

Juneyao Airlines ran to 19 international destinations in the first half, with the number of flights on these routes up 20% from the level of 2019, it noted. It added new flights from Shanghai to Bali, Penang, and Athens and increased their number to Tokyo, Osaka, Jeju, Bangkok, and Singapore, expanding its presence in Southeast Asia and Europe.

The number of passengers jumped 18.5 percent to 13.7 million, with domestic passengers increasing by 10.4 percent and international ones by more than two-fold, Juneyao Airlines said. The passenger load factor climbed 3.8 percentage points to 84.5 percent, with the international one rising 10.7 points to 77.1 percent.

The international air passenger market has maintained a recovery rate of over 80 percent for five consecutive months starting in February, continuing its rapid recovery trend. However, according to the first-half performance forecasts of Air China, China Eastern, and China Southern Airlines, the country's three major state-owned airlines, they expect to remain in the red.

The overall loss of Chinese airlines was CNY4.7 billion in the first half of the year, down CNY12.4 billion from a year ago, the China Air Transport Association announced last month.

Shares of Juneyao Airlines [SHA: 603885] closed down 0.6 percent at CNY11.13 (USD1.56) each in Shanghai today, after dropping by as much as 2.6 percent in the morning trading session.

Editor: Martin Kadiev