Air China H1 profit down 12.4%
Air China reported a 2016 first-half net profit of CNY3.46b (US$520m), down 12.4% compared to net income of CNY3.95b in the year-ago period, according to the carrier. First-half operating revenue rose 4.6% to CNY53.52b while operating expenses grew 2.6% to CNY41.16b. Industry analysts cited yuan depreciation and cargo market depression as the main reasons for the carrier’s profit decline. Air China reported a CNY1.7b loss in currency exchanges. Passenger boardings climbed 7.3% to 46.86m with an average load factor of 79.8%. Looking to the second half, Air China expects the domestic air passenger market to grow steadily with a continued high demand on outbound tourism. But the carrier also warns that intensified industry competition and exchange rate fluctuations will remain. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-09-01/star/air-china-h1-profit-down-12-4
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Air China H1 profit down 12.4%
Air China reported a 2016 first-half net profit of CNY3.46b (US$520m), down 12.4% compared to net income of CNY3.95b in the year-ago period, according to the carrier. First-half operating revenue rose 4.6% to CNY53.52b while operating expenses grew 2.6% to CNY41.16b. Industry analysts cited yuan depreciation and cargo market depression as the main reasons for the carrier’s profit decline. Air China reported a CNY1.7b loss in currency exchanges. Passenger boardings climbed 7.3% to 46.86m with an average load factor of 79.8%. Looking to the second half, Air China expects the domestic air passenger market to grow steadily with a continued high demand on outbound tourism. But the carrier also warns that intensified industry competition and exchange rate fluctuations will remain. <br/>
