50 SKY SHADES - World aviation news

Air China’s 1H profit increases more than 700%

Download: Printable PDF Date: 28 Aug 2015 19:50 (UTC) categories:
Publisher:
Air China’s 1H profit increases more than 700% - Finance publisher
Tatjana Obrazcova
Source: ATW

Air China has reported a net income of CNY4.2 billion ($660 million) for the first half of 2015, up 721% over the net profit of CNY510 million for the same period of last year.

Operating revenue rose 3.87% to CNY51.9 billion while operating costs increased by 5% to CNY45.2 billion.

The Beijing-based carrier cited “robust growth in market demand” and “much lower fuel prices” as the main reasons for its much improved performance.

Passenger boardings jumped 8.8% to CNY44 million with an average load factor of almost 80%, down 0.72 percentage points compared to the year-ago period.

Passenger revenue climbed 9.5% to 82 billion RPKs versus an increase of 10.5% in passenger capacity to 103 billion ASKs.

Cargo revenue increased 23.6% to 3.2 billion RFTKs against a 22.4% increase in cargo capacity to 5.8 billion AFTKs.

For the first six months of this year Air China took delivery of 28 new aircraft comprising by Boeing747-8s, Boeing777-200Fs and Boeing 737-800s, and retired nine aircraft.

Looking ahead, Air China said it remains optimistic for the aviation market and expects to see solid growth in domestic market demand and international outbound travel. But the carrier cautioned that challenges also exist as industry competition further intensifiesand currency exchange fluctuations increase.



Loading comments for Air China’s 1H profit increases more than 700%...


Recommended

Jet Edge International to establish Teterboro Airport base with Signature Aviation

Signature Aviation and Jet Edge International have signed an agreement to occupy Signature’s East facility at Teterboro Airport (TEB) in New Jersey. The New York City area base will gr...

Expanding service offering - collaboration - MTU Maintenance and Nayak Group

MTU Maintenance and the Nayak Group have entered into a collaboration agreement to offer a broader variety of services to each of their respective customer groups. From now onwards, MTU Maintenance is...

Dornier Seawings acquired Flywhale project

Dornier Seawings has acquired the Flywhale aircraft project from Uniplanes GmbH as of January 1, 2022. The acquisition of Dornier Seawings includes the entire intellectual property and production...

EHang received a pre-order for 50 Units of EH216 in Japan

EHang  announced that AirX Inc., a leading Japanese air mobility digital platform company, has placed a pre-order for 50 units of the EH216 AAV, marking the biggest pre-order EHang has received i...