(Yicai Global) Aug. 24 -- Online travel platform Tuniu narrowed its net loss 91 percent in the second quarter from a year earlier, due to the recovery of the Chinese tourism market.

Net loss was CNY14 million (USD2.2 million) in the six months ended June 30, versus CNY154.6 million (USD23.8 million) a year ago, according to the financial results the Nanjing-based firm released yesterday. Revenue jumped 373 percent to CNY161 million, more than double compared with the first quarter.

Revenue from packaged tours was CNY126.5 million in the second quarter, an increase of 907 percent from the same period one year ago.

Tuniu expects net income of between CNY111 million and CNY124 million in the third quarter, falling between 0 percent and 10 percent from last year, and rising between 151 percent and 401 percent from the second quarter.

“Our business saw a strong recovery in the second quarter, as we achieved revenue growth for the first time since the Covid-19 outbreak and returned to positive operating cash flow,” said Donald Yu, Tuniu’s founder, chairman and chief executive officer during an earning conference.

China’s domestic tour market’s recovery accelerated from April to June, Tuniu said, adding that the booking of long trips within the country grew rapidly in the period, buoyed by the May Day holidays and the early demand for summer vacation.

Tuniu’s shares [NASDAQ:TOUR] closed up 3.3 percent at USD1.55 yesterday, after rising as much as 8.7 percent in the morning trading session.

Editor: Futura Costaglione