Flying into the black
By Winny Wang |
April 24, 2010, Saturday
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Print Edition
Print Edition
AIR China, the country's flagship international carrier which flew into the black last year, posted a surge of 121 percent in net earnings in the first quarter of this year on a recovery in demand and in fuel hedging gains.
The Beijing-based carrier earned a profit of 2.17 billion yuan (US$318 million) in the first three months, it said in a statement to the Shanghai Stock Exchange yesterday.
It earned 5.03 billion yuan in net income last year, compared with a loss of 9.1 billion yuan in 2008, and its revenue declined 3.54 percent to 51 billion yuan in 2009.
It flew 41.28 million passengers last year, rising 14.23 percent from a year earlier, and carried 974,000 tons of cargo, a dip of 0.62 percent.
Fuel hedging gains totaled 2.76 billion yuan last year, and the government refunded it 1.12 billion yuan in the period.
The Beijing-based carrier earned a profit of 2.17 billion yuan (US$318 million) in the first three months, it said in a statement to the Shanghai Stock Exchange yesterday.
It earned 5.03 billion yuan in net income last year, compared with a loss of 9.1 billion yuan in 2008, and its revenue declined 3.54 percent to 51 billion yuan in 2009.
It flew 41.28 million passengers last year, rising 14.23 percent from a year earlier, and carried 974,000 tons of cargo, a dip of 0.62 percent.
Fuel hedging gains totaled 2.76 billion yuan last year, and the government refunded it 1.12 billion yuan in the period.
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