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.