Market demand growth lifts Air China’s 2017 net profit 6.3%
Air China reported a 2017 net profit of CNY7.2b (US$1.1b), up 6.3% over net income of CNY6.8b in 2016 as market demand continues to grow. Operating revenue increased 7.7% to CNY121.4b. Passenger traffic revenue grew 6.4% to CNY106.7b and cargo traffic revenue jumped 23.5% to CNY10.3b. Operating expenses were up 15% to CNY100.3b and fuel costs rose 29.2% to CNY28.4b. Passenger boardings rose 5.2% to 101.6m with an average load factor of 81.1%, up 0.46 points over 2016. Passenger capacity grew 6.3% to 247.8b ASKs against a 6.9% increase in passenger revenue to 201.1b RPKs. Cargo traffic volume rose 4.1% to 1.8m tonnes. Looking ahead, Air China plans to introduce 54 aircraft and retire 22 in 2018, and in 2019 it will take delivery of 63 aircraft and phase out 17. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-03-29/star/market-demand-growth-lifts-air-china2019s-2017-net-profit-6-3
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Market demand growth lifts Air China’s 2017 net profit 6.3%
Air China reported a 2017 net profit of CNY7.2b (US$1.1b), up 6.3% over net income of CNY6.8b in 2016 as market demand continues to grow. Operating revenue increased 7.7% to CNY121.4b. Passenger traffic revenue grew 6.4% to CNY106.7b and cargo traffic revenue jumped 23.5% to CNY10.3b. Operating expenses were up 15% to CNY100.3b and fuel costs rose 29.2% to CNY28.4b. Passenger boardings rose 5.2% to 101.6m with an average load factor of 81.1%, up 0.46 points over 2016. Passenger capacity grew 6.3% to 247.8b ASKs against a 6.9% increase in passenger revenue to 201.1b RPKs. Cargo traffic volume rose 4.1% to 1.8m tonnes. Looking ahead, Air China plans to introduce 54 aircraft and retire 22 in 2018, and in 2019 it will take delivery of 63 aircraft and phase out 17. <br/>
