Air China forecasts 55% to 65% decline in 1Q2014 net profit

Air China forecast (21-Apr-2014) a 55% to 65% year-on-year decline in net profit in 1Q2014, compared to a net profit of CNY249 million (USD38.9 million) in 1Q2013. The carrier attributes the profit downgrade to "the financial expenses of the Company substantially increased as compared with the corresponding period of 2013 due to the exchange losses (as compared with the exchange gains for the corresponding period of 2013) resulting from the substantial depreciation of Renminbi." [more - original PR - Chinese] [more - original PR - English]