HONG KONG, April 23 /PRNewswire-Asia/ -- Air China Limited
("Air China" or "the Company," together with its subsidiaries,
collectively "the Group") (HKEx: 00753; LSE: AIRC; SSE: 601111: ADR
OTC: AIRYY), today announced its financial results(1) for the first
quarter ended March 31, 2010 ("the
Period").
Results Highlights
RMB billion Q1 2010 Q1 2009 Change (%)
(Jan - Mar) (Jan - Mar)
Operating Revenue 14.70 11.24 30.7
Operating Profit 2.54 0.26 894.2
Net Profit 2.17 0.98 121.3
Earnings per share(RMB) 0.19 0.08 137.5
Operating and Business Highlights
Continued Air Traffic Growth Momentum
During the Period under review, Air China recorded a 30.7%
year-over-year increase in operating revenue, to RMB14.7 billion, driven by sustained growth in
domestic traffic and a recovery in international traffic and cargo
business. Operating profit increased by 894.2% compared with the
same period in 2009 to RMB2.54
billion. The Company reported a net profit of RMB2.17 billion, an increase of 121.3% compared
with a net profit of RMB0.98 billion
in the first quarter 2009.
During the Period, passenger capacity, measured in Available
Seat Kilometer ("ASK"), rose by 10.64% year-over-year to 26.59
billion. Passenger traffic measured by Revenue Passenger Kilometers
("RPK") was 20.9 billion, up 15% from the first quarter 2009.
Passenger traffic or RPK on international, domestic and regional
routes increased by 19.04%, 12.4% and 16.35% year-over- year to
7.79 billion, 12.08 billion and 1.03 billion, respectively.
Passenger load factor was 78.6%, an increase of 2.97 percentage
points compared with the same period in 2009. The load factor for
international, domestic and regional routes was 81.97%, 77.0% and
73.77%, respectively, up 6.55, 0.55, and 5.54 percentage points
year-over-year, respectively.
Driven by the continued global economic recovery, cargo business
also experienced a solid rebound. Cargo capacity, measured by
Available Freight Tonne Kilometers ("AFTK"), increased by 20.76% to
1.8 billion. Cargo traffic, measured by Revenue Freight Tonne
Kilometers ("RFTK"), increased by 51.28% year-over-year to 1.04
billion. Cargo and mail load factor improved to 57.64%, a
significant increase of 11.63 percentage points compared with the
same period last year.
Outlook
Air China Chairman Mr. Kong Dong
said: "We are pleased to deliver healthy results to start off 2010.
We expect to see better growth potential in the domestic market
driven by the Shanghai World Expo and the Asian Games this year.
Meanwhile, recognizing uncertainties such as jet fuel prices and
interest rate, we remain cautiously optimistic about our prospects
for the remaining part of the year. "
"We remain focused on executing our proven growth strategy,
confident that our strategic priorities and management capabilities
leave us well-positioned to seize market opportunities and deliver
positive results to our shareholders."
(1) All figures are unaudited, stated according to PRC GAAP. The
operating figures include those of Air Macao.
About Air China Limited
Air China Limited (Air China) is the national flag carrier of
China and a leading provider of
air passenger, air cargo and airline-related services and products
in China. Its operational head
office is in Beijing, a major
domestic and international hub in China. It also provides airline-related
services, including aircraft maintenance, ground services in
Beijing, Chengdu, and other locations. As of
31 December, 2009, the Company
operated a fleet of 262 aircraft, serving 156 destinations in 32
countries and regions. Air China
was listed on the Hong Kong Stock Exchange and the London Stock
Exchange on December 15, 2004 under
codes 00753 and AIRC respectively. On August
18, 2006, Air China was listed on the Shanghai Stock
Exchange under code 601111. For further details, please visit Air
China's website: http://www.airchina.com.cn .
Safe Harbor Statement
This press release contains projections and forward-looking
statements that reflect the Company's current views with respect to
future events and financial performance. These views are based on
current assumptions which are subject to various risks and which
may change over time. No assurance can be given that future events
will occur that projections will be achieved, or that the Company's
assumptions are correct. Actual results may differ materially from
those projected.
Contact:
Air China:
Rao Xinyu, General Manager of IR
Air China Limited
+86-10-6146-2777
raoxinyu@airchina.com
Joyce Zhang
Air China Limited
+86-10-6146-2560
joycezhang@airchina.com
Investor Relations:
Ruby Yim
Taylor Rafferty, Hong Kong
+852-3196-3712
AirChina@taylor-rafferty.com
Mahmoud Siddig
Taylor Rafferty, New York
+1-212-889-4350
AirChina@taylor-rafferty.com
SOURCE Air China Limited