Air China profits fall in 1H2011

Air China revenue up 31% - financial highlights for the six months ended 30-Jun-2011:

• Revenue: USD7122 million, +31.1% year-on-year;
  • Government grants and subsidies: USD55.3 million, +47.8%;
• Operating costs: USD6495 million, +35.5%;
  • Fuel: USD2539 million, +53.1%;
  • Labour: USD863.8 million, +33.2%;
• Operating profit: USD627.3 million, -2.1%;
• Net profit: USD633.7 million, -12.1%;
• Passenger load factor: 80.8%, +1.9 ppt;
• Passenger yield: USD 10.12 cents, +7.0%;
• Cargo load factor: 59.5%, +0.1 ppt;
• Cargo yield: USD 28.22 cents, -3.5%;
• Total assets: USD26,175 million, +5.5% when compared to period ended 31-Dec-2010;
  • Cash and cash equivalents: USD2463 million, +9.5% when compared to period ended 31-Dec-2010;
• Total liabilities: USD19,041 million, +3.8% when compared to period ended 31-Dec-2010. [more]

*Based on the conversion rate at USD1 = CNY6.4