Shandong Airlines reported a 13.1% increase in its third-quarter operating profit to CNY924 million ($131 million), driven in part by a reduction in operating expenses.
For the three months ended 30 September, the carrier saw costs go down 1.1% to CNY4.89 billion. Revenue, meanwhile, increased 0.9% to CNY5.77 billion.
Attributable net profit stood at CNY721 million, an increase of 17.7% from the same period a year ago.
However, Shandong Airlines saw its operating profits for the first nine months of the year decline on a year-on-year basis. It reported an operating profit of CNY859 million, a drop of 18.6% compared to the same period a year ago.
Operating revenue for the period went up by 2.2% to CNY14.8 billion. This was outpaced by expenses, which increased 2.7% to CNY13.9 billion.
As of 30 September, the airline had CNY597 million in cash and cash equivalents, significantly lower than the CNY1.8 billion it had in the corresponding period a year earlier.
