After a year of flying low, China's aviation industry is getting back on the track of fast growth.

The industry generated 7.36 billion yuan ($1.1 billion) in profits in September, compared with only 460 million yuan ($69 million) for the same period last year, said the Civil Aviation Administration of China (CAAC). Of this total, domestic airlines earned 6.64 billion yuan ($1 billion), and airports raked in 290 million yuan ($43.5 million).

The market turnaround stems from a significant surge in air traffic. In September, passenger volume expanded 17 percent year on year to 22.6 million, and cargo volume grew 9.1 percent from one year ago to reach 515,700 tons.

The industry has gained strength from a tourism boom, as well as thriving foreign trade, said Mao Ang, a transport analyst at the China Galaxy Securities Co. Ltd.

To lift the aviation industry, the government has also announced in May to waive business taxes on airlines' international routes to help them explore overseas markets.

The big carriers, in particular, will gather steam as the August plane crash in Yichun, Heilongjiang Province, hurt customer confidence for smaller rivals, said Huang Jinxiang, an analyst at the Bohai Securities Co. Ltd.