Air China reports net profit down, summer demand up in 3Q
Air China reported a net profit of CNY6.5b (US$946m) for the first 9 months of 2018, down 20% year-over-year, the highest earnings among the country’s 3 main carriers. Revenue for the 9-month period was CNY102b, up 12% YOY. Operating profit was down 23.5% to CNY95.7b. The lower profit margin was because of increased operating costs, which was up by 19.5% to CNY96.3b. For the first 9 months of 2018, Air China’s capacity (ASKs) and revenue (RPKs) saw double-digital growth of 11.95% and 10.96%, respectively. For Q3, ASKs and RPKs were up 9.5% and 9.2%, respectively. Load factors remained at around 80.3%, down by 0.72 pts. Air China said that, despite challenges posed by the rising costs of fuel and weakened currency, the airline benefited from a strong demand during the summer season. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-11-02/star/air-china-reports-net-profit-down-summer-demand-up-in-3q
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Air China reports net profit down, summer demand up in 3Q
Air China reported a net profit of CNY6.5b (US$946m) for the first 9 months of 2018, down 20% year-over-year, the highest earnings among the country’s 3 main carriers. Revenue for the 9-month period was CNY102b, up 12% YOY. Operating profit was down 23.5% to CNY95.7b. The lower profit margin was because of increased operating costs, which was up by 19.5% to CNY96.3b. For the first 9 months of 2018, Air China’s capacity (ASKs) and revenue (RPKs) saw double-digital growth of 11.95% and 10.96%, respectively. For Q3, ASKs and RPKs were up 9.5% and 9.2%, respectively. Load factors remained at around 80.3%, down by 0.72 pts. Air China said that, despite challenges posed by the rising costs of fuel and weakened currency, the airline benefited from a strong demand during the summer season. <br/>
