AVIC Aircraft narrows Q1 2013 net loss to CNY30m

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AVIC Aircraft, formerly known as Xian Aircraft International, narrowed its attributable net loss for the first quarter of 2013 by 53% to yuan (CNY) 30 million ($4.86 million) from CNY63.7 million a year ago.

Its operating income rose by 49% to CNY3.56 billion, while its total costs increased by 47% to CNY3.63 billion, the company said in a filing with the Shenzhen Stock Exchange.

The company also reduced its operating loss by 19% to CNY64.7 million, while total loss narrowed to CNY63.7 million from CNY81 million a year ago, it adds.

AVIC Aircraft is an airframer that also manufactures aircraft parts and ground equipment.