Air China net profit down 85.7% in 1Q2012

Air China revenue up 7.7% - financial highlights for the three months ended Mar-2012 (according to Chinese Accounting Standards):

• Total revenue*: CNY22,895 million (USD3,635.5 million), +7.7% year-on-year;
• Total operating costs: CNY22,711.1 million (USD3,606.3 million), +16.9%;
• Profit from operations: CNY189.4 million (USD30.1 million), -91.6%;
• Net profit: CNY239.1 million (USD38 million), -85.7%;
• Total assets: CNY172,406.1 million (USD27,376.5 million), -0.5% when compared to period ended 31-Dec-2011. [more - original PR]

*Based on the average conversion rate at USD1 = CNY6.2976