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Air China doubles first quarter net profit on traffic rebound


Air China stated its first-quarter net profit more than doubled in the three months ended Mar-2010, as domestic air travel demand rebounded strongly with the recovering economy. Air China Chairman, Kong Dong, commented that the carrier was pleased to deliver “healthy” results to start 2010. The carrier also stated its Air Macau subsidiary was able to report a “small” profit in 1Q2010 due to the carrier’s expanded network. [2493 words]

Unlock the following content in this report:


  • Passenger traffic growth and solid cargo rebound in 1Q2010
  • Air China swings to profitability in 2009
  • Uncharacteristic revenue reduction in 2009; cargo revenues and international passenger revenues slump
  • Yields weaker in 2009; increased load factors and capacity contribute positively to revenues
  • Sharp reduction in operating costs in 2009
  • Larger asset base than its peers
  • Robust domestic growth; international and regional recovery lagging
  • Gradual cargo recovery in second half of 2010
  •  “Prudent” fleet expansion policy in 2009
  • Progressing with hub development
  • Focusing on premium travel market
  • Outlook

Graphs and data:

  • Air China financial results: Three months ended 31-Mar-2010 (Chinese Accounting Standards)
  • Air China operating profit margin and net profit margin: 1Q2008-1Q2010
  • Chinese carriers’ net profit margin: 1Q2009 to 1Q2010
  • Air China revenue and operating costs: 1Q2008-1Q2010
  • Chinese carriers revenue trend: 1Q2009 to 1Q2010
  • Particulars of the Top 10 holders of listed shares not subject to trading moratorium (number of listed shares and class of shares)
  • Air China financial results: 12 months ended Dec-2009 (International Accounting Standards)
  • Chinese carriers net profit margin in 2009
  • Air China operating profit margin and net profit margin: 2003 to 2009
  • Air China revenue growth: 2004 to 2009
  • Air China revenue breakdown by Geographical area in 2009
  • Air China operating costs break down: 2008 vs 2009
  • Chinese big three carriers’ total assets: 2009 vs 2010
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