Shandong Airlines net profit down 1.4% in Q1 2013

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Shandong Airlines has reported a 1.35% fall in net profit for the first quarter of 2013 to yuan (CNY) 62 million ($10.1 million), compared with the same time last year.

The airline's operating revenue rose by 16% to CNY2.8 billion for the three months ended 31 March, it said in a statement to the Shenzhen Stock Exchange.

The Shandong Aviation Group, a conglomerate based in Shandong city, owns 42% of the airline while Air China has a 22.8% stake in the carrier.