Source: Shanghai Daily Author: Winny Wang 07/25/2008
Subject Concerned: Aviation Fuel
China National Aviation Fuel Group Co's revenue rose 59 percent in the first half of the year keeping pace with rising fuel prices.
The country's largest jet fuel provider made 51 billion yuan (US$7.4 billion) in revenue in the period, accounting for 55.9 percent of its whole-year plan, it said in a statement to the State-owned Assets Supervision and Administration Commission (SASAC) on July 25.
It sold 8.17 million tons of products, up 27.2 percent from a year earlier, including 6.17 million tons of jet fuel which rose 9.5 percent.
The company, the parent of the Singapore-listed China Aviation Oil (Singapore) Corp, provided fuel to 3,277 flights at cost after the Sichuan earthquake in May, which cost it 38 million yuan, the statement said.
The cost of aviation fuel on the Chinese mainland has reached 8,720 yuan per ton, about four times the 2005 price, after the company raised domestic jet-fuel prices by 720 yuan per ton this month.