Air China Limited announces 2017 annual results



Air China Limited (HKEX: 00753; LSE: AIRC; SSE: 601111: ADR OTC: AIRYY), has announced its full year results for the 12 months ended December 31, 2017, the company said.

During the period, net profit increased 11.38% year-on-year to RMB8.631 billion.

The Group recorded a turnover of RMB 124.026 billion in 2017, an increase of 7.71% from the same period last year. Air transport revenue was up 7.53% year-on year to RMB 115.380 billion. Air passenger revenue was up 6.19% while air cargo revenue was up by 23.48%. And other operating income was RMB 8.646 billion, representing an increase of 10.19% year-on-year.

Operating expenses increased by 15.02% to RMB 112.270 billion. Jet fuel cost recorded a year-on-year increase of RMB6.427 billion, up by 29.24% from the same period last year. During the period, the Group recorded an exchange gain of RMB2.938 billion.

During the Period, the Group carried a total of 102 million passengers, a year-on-year increase of 5.15%. Passenger capacity, measured by Available Seat Kilometers (ASK), increased by 6.26% to 247.815 billion.

Capacity for domestic and international routes rose by 5.88% and 7.80% respectively, while capacity for regional routes fell by 1.99%. Overall passenger traffic, measured by Revenue Passenger Kilometers (RPK) increased by 6.87% to 210.078 billion. Traffic on domestic, international and regional routes increased by 6.16%, 8.55% and 2.79% year-on-year respectively.

Passenger load factor rose by 0.46 percentage points to 81.14%. In 2017, the Group introduced 56 aircraft, and phased out 11 aircraft. The total fleet size was 655 aircraft, with an average age of 6.53 years.

Air China Limited 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. For further details, visit Air China´s website: www.airchina.com.cn.