30-Oct-2013 12:41 PM

Air China Ltd operating profit down 10% in 3Q2013, forex gain contributed to profitability

Air China Ltd revenue down 3% – financial highlights for three months ended 30-Sep-2013 (according to Chinese Accounting Standards):

  • Operating revenue: CNY27,929 million (USD4530 million), -2.9% year-on-year;
  • Operating costs: CNY21,254 million (USD3447 million), +2.3%;
  • Operating profit: CNY4021 million (USD652.2 million), -10.3%;
  • Net profit: CNY2942 million (USD477.2 million), -7.3%;
  • Earnings per share: CNY0.24 (USD 3.9 cents), -7.7%;
  • Passenger traffic (RPKs): +10.5%;
  • Passenger load factor: 82.7%, +0.1 ppt;
  • Total assets: CNY204,550 million (USD33,177 million);
  • Total liabilities: CNY146,265 million (USD23,724 million). [more - original PR - Chinese]

*Based on the average conversion rate at USD1 = CNY6.1654

The group attributed the profit growth to a CNY2000 million (USD324 million) increase in foreign exchange gains during the quarter.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More