Air China announces 2017 interim results

Air China Limited (HKEX: 00753; LSE: AIRC; SSE: 601111: ADR OTC: AIRYY), has announced its interim results for the 6 months ended June 30, 2017 (“the Period”), the company said.

The Group recorded a turnover of RMB 58.746 billion in the first half of 2017, an increase of 8.82% from the same period last year.

Air passenger revenue was up 8.02% year-on year to RMB 51.052 billion, while air cargo revenue went up by 19.65% year-on-year to RMB 4.487billion.

Operating expenses increased by 15.12% to RMB 52.939 billion, up from RMB 45.987 billion reported in the first half of 2016. Jet fuel cost recorded a year-on-year increase of RMB 3.902 billion, up by 40.11% from the same period last year, mainly due to the increase in jet fuel price.

Net profit increased year-on-year by 3.33% to RMB 3.921 billion. During the period, the Group recorded an exchange gain of RMB 1.270 billion as compared to a loss of RMB 1.698 billion the same period of last year, arising from the depreciation of USD to RMB.

In the first half of 2017, the Group carried a total of 49.20 million passengers, a year-on-year increase of 5%. Passenger capacity, measured by Available Seat Kilometers (ASK), increased by 4.94% to 118.992 billion. Capacity for domestic and international routes rose by 4.96% and 6.41% respectively, while capacity for regional routes fell by 7.40%. Overall passenger traffic, measured by Revenue Passenger Kilometers (RPK) increased by 6.53% to 96.415 billion. Traffic on domestic and international routes increased by 6.30% and 8.47% respectively, while regional traffic dropped by 6.65% year-on-year. Passenger load factor rose by 1.20 percentage points to 81.03%. Revenue per RPK reached RMB0.53, an increase of 1.42% year-on-year.

Air China Limited (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. It also provides airline-related services, including aircraft maintenance, ground handling services in Beijing, Chengdu, and other locations. For further details, visit Air China´s website: www.airchina.com.cn.