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31-Mar-2016 10:33 AM

Air China operating profit more than doubles in 2015, yield down

Air China revenue up 3% - financial highlights for 12 months ended 31-Dec-2015:

  • Revenue: CNY104,368 million (USD16,763 million), +2.9% year-on-year;
    • Passenger: CNY95,921 million (USD15,406 million), +3.6%;
    • Cargo and mail: CNY8447 million (USD1357 million), -3.9%;
  • Operating costs: CNY94,505 million (USD15,179 million), -4.3%;
    • Fuel: CNY24,043 million (USD3862 million), -30.4%;
    • Labour: CNY18,231 million (USD2928 million), +17.2%;
  • Operating profit: CNY15,552 million (USD2498 million), +114%;
  • Net profit: CNY7509 million (USD1206 million), +73.3%;
  • Passenger yield: CNY0.56 (USD 8.97 cents), -6.7%;
  • Cargo yield: CNY1.29 (USD 20.69 cents), -16.6%;
  • Total assets: CNY213,631 million (USD34,312 million);
  • Cash and cash equivalents: CNY7138 million (USD1146 million);
  • Total liabilities: CNY147,108 million (USD23,628 million). [more - original PR - English/Chinese]

*Based on the average conversion rate at CNY1 = USD0.160615

Air China: "In 2016, the global economy will continue to face uncertainties, and the Chinese economy will stay in the "new normal". With the adjustment of economic structure and the upgrade of household consumption, China's civil aviation business is expected to maintain a high growth rate. On the other hand, intensified industrial competition and exchange rate fluctuations will also bring major challenges." Source: Company statement, 30-Mar-2016.

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