Air China forecasts USD2.5bn profit, 107m pax p/a by 2015
Air China parent China National Aviation Holding Company (CNAH) forecasts the group’s fleet will increase to 700 aircraft, annual passenger numbers to increase to 107 million, cargo volume to increase to 2.2 million tonnes, total assets to reach CNY280 billion (USD43.8 billion), operating revenue to reach CNY150 billion (USD23.4 billion) and profit to reach CNY16 billion (USD2.5 billion) p/a by 2015, a reported by Carnoc.com. The group celebrated its 10th anniversary this year. Over the past decade, the group’s annual passenger numbers and cargo volume have increased three-fold while operating revenue has increased from CNY26,200 million (USD4094 million) to CNY96,900 million (USD15,141 million) and profit has increased from CNY285 million (USD44.5 million) to more than CNY10,000 million (USD1563 million) p/a. At the end of 2011, the group’s fleet reached 432 aircraft and reported assets of approximately CNY183,300 million (USD28,641 million) for an asset to liability ratio of 69.5%, down from 84.1%. Looking ahead, CNAH president Wang Changshun stated the group will aim for steady growth while taking advantage of market opportunities in the second half of this year. Mr Wang estimates Air China’s brand value has surpassed USD9.8 billion.