Air China Limited releases 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 Period”), the company said.

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.

In 2017, profit before tax was RMB11.486 billion, representing a year-on-year increase of 12.47%. Net profit was RMB8.641 billion, representing a year-on-year increase of 11.38%. The net profit attributable to shareholders of listed companies was RMB7.244 billion, up 6.39% year-on-year.

Based on the 2017 profit distribution plan of the company, the Board recommends the appropriation of 10% of the profit after tax as statutory surplus reserve and 10% as discretionary surplus reserve and the payment of a cash dividend of RMB1.1497 (including tax) for every ten shares for the year 2017. The relevant cash dividend plan will be submitted to the company´s 2017 Annual General Meeting for consideration.

During the Period, the company´s capacity measured by Available Tonne Kilometers (ATK) was 35.673 billion, representing a year-on-year increase of 5.61%. Traffic measured by Revenue Tonne Kilometers (RTK) was 25.385 billion, representing a year-on-year increase of 7.12%.

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 (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.