Juneyao Airlines Wednesday night reported a net profit of 454.23 million yuan in the first quarter of 2016, up 70.42% over 266.54 million yuan in Q1 2015.
Operating revenue rose 30.43% to 2.55 billion in the first quarter of this year. Basic earnings per share stood at 0.4 yuan.
The Shanghai-based carrier credited "fleet expansion" and "robust growth of market demand" for the much improved performance.
Last week, Juneyao Airlines reported an annual net profit of 1.05 billion yuan, more than double its net income of 424.7 million yuan in 2014.
In 2015, the Shanghai-based carrier introduced 12 Airbus A320 family jets to its fleet, bringing its fleet size to 50 aircraft, comprising 38 A320s and 12 A321s. Its low-cost subsidiary 9 Air added two 737s.
In 2016, Juneyao Airlines will receive 15 new aircraft across its group during 2016. Nine of the jets will go to mainline Juneyao, while six will be for its low-cost subsidiary 9 Air. Neither will be retiring any aircraft during the year.
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