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Air China reports sharp decline in 3Q2011 profits

28-Oct-2011 11:30 AM

Air China revenue up 13% – financial highlights for three months ended 30-Sep-2011 (according to Chinese Accounting Standards):

  • Total revenue: USD4429 million, +13.4% year-on-year;
  • Total operating costs: USD3676 million, +20.3%;
  • Operating profit: USD850.8 million, -20.8%;
  • Net profit: USD543.9 million, -30.3%;
  • Total assets: USD26,977 million, +10.4% when compared to period ended 31-Dec-2010;
  • Cash and bank balances: USD2612 million, +10.6% when compared to period ended 31-Dec-2010;
  • Total liabilities: USD19,129 million, +7.1% when compared to period ended 31-Dec-2010. [more – original PR]

*Based on the conversion rate at USD1 = CNY6.3544