Air China reports sharp decline in 3Q2011 profits

Air China revenue up 13% - financial highlights for three months ended 30-Sep-2011 (according to Chinese Accounting Standards):

• Total revenue: USD4429 million, +13.4% year-on-year;
• Total operating costs: USD3676 million, +20.3%;
• Operating profit: USD850.8 million, -20.8%;
• Net profit: USD543.9 million, -30.3%;
• Total assets: USD26,977 million, +10.4% when compared to period ended 31-Dec-2010;
• Cash and bank balances: USD2612 million, +10.6% when compared to period ended 31-Dec-2010;
• Total liabilities: USD19,129 million, +7.1% when compared to period ended 31-Dec-2010. [more - original PR]

*Based on the conversion rate at USD1 = CNY6.3544