Singapore-China's three biggest airlines, all state-owned, spent Yuan 102.9 billion ($16.6 billion) on jet fuel procurements last year, an increase of 6.5% year on year, the companies said in their annual results released this week. The higher fuel costs, which made up the largest part of the airlines' operating expen- diture, dragged down full-year net profit by more than 30% year on year for all three car- riers-China Eastern Airlines, Air China and China Southern Airlines.
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