RECOVERING demand and declining jet fuel prices generated 9.21 billion yuan (US$1.34 million) in profit for China's aviation industry in the first three quarters of this year.

Domestic carriers flew 170 million passengers in the year through September, rising 20 percent on a yearly basis, compared with a 1.7 percent increase in the same period of 2008, according to the Civil Aviation Administration of China.

During the month, domestic airlines flew 19.3 million passengers, rising 17.3 percent from a year earlier, and 456,548 tons of cargo, a gain of 24.7 percent, the administration said.

The industry, including airlines and airports, made 9.21 billion yuan in profit in the period, a gain of 9.68 billion yuan from a year earlier thanks to the economic recovery and falling fuel prices. Airlines made a total of 6.13 billion yuan.

Source