1 May 2014
Air China Ltd. (HKEX: 753) (LSE: AIRC) (SSE: 601111: ADR) (OTC: AIRYY) said that during the first quarter of 2014 operating revenue was RMB24,419m, an increase of 7.48 percent year-on-year.
Operating cost was RMB20,733m, an increase of 5.37 percent year-on-year. Net profit was RMB93m, a decline of 62.71 percent when compared to the corresponding period last year. The decrease was mainly due to net exchange loss arising from the depreciation of RMB.
During the reporting period, operating profit after deducting exchange losses increased by RMB515m as compared to the corresponding period of the previous year, mainly due to the combined effects of improved utilization efficiency of freight capacity, effective cost controls, as well as lower fuel price compared to that of the corresponding period of the previous year.
During the Period, passenger capacity, measured by available seat kilometer, rose by 11.92 percent year-over-year to 45.944 billion. Passenger traffic measured by revenue passenger kilometers was 37.563 billion, up 12.04 percent from the same period in 2013.
Air China is the national flag carrier of China and a provider of passenger, air cargo and airline-related services and products in China. Its operational headquarters is in Beijing, a major domestic and international hub in China. Its website is at www.airchina.com.cn.