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Air China operating profit up 31% in 2012

27-Mar-2013 11:34 AM

Air China revenue up 3% – financial highlights for 12 months ended 31-Dec-2012:

  • Revenue: CNY100,838 million (USD15,977 million), +2.5% year-on-year;
    • Passenger: CNY86,899 million (USD13,768 million), +4.1%;
    • Cargo: CNY8421 million (USD1334 million), -14.4%;
  • Operating costs: CNY92,629 million (USD14,676 million), +0.5%;
    • Fuel: CNY35,638 million (USD5647 million), +2.7%;
  • Operating profit: CNY8209 million (USD1301 million), +31.2%;
  • Net profit: CNY4637 million (USD734.6 million), -34.5%;
  • Passenger numbers: 72.4 million, +3.9%;
  • Passenger load factor: 80.4%, -1.1 ppt;
  • Passenger yield: CNY0.67 (USD 10.6 cents), -1.5%;
  • Total assets: CNY187,591 million (USD29,722 million), +6.7%;
  • Total liabilities: CNY135,313 million (USD21,439 million), +6.1%. [more – original PR]

*Based on the average conversion rate at USD1 = CNY6.3115

Air China: “In 2013, notwithstanding the steady recovery in the global economy, the shadows of the European debt crisis have not subsided and the structural consolidation of the PRC domestic economy is at an important transition. The global aviation industry will face pressures from the slowdown of capacity growth, the accelerating adjustments in the industrial landscape and intensifying competition, among others. However, benefiting from the continuous growth and economic transitions of the Chinese economy, the growth of aviation market in the PRC will exceed its GDP growth, making it remain to be the market with the highest potential of development globally.” Source: Company statement, 27-Mar-2013.