Air China reports a half-year profit of 2.88 billion Renminbi (RMB) ($3.38 billion), an increase of over 150% on the same period last year.
August 25: Air China reported a half-year profit of 2.88 billion Renminbi (RMB) ($3.38 billion), an increase of over 150% on the same period last year. Much of the profit came from gains in hedging against fuel increases, amounting to some RMB1.45 billion, but the company also cited a strong domestic market for its strong performance.
The airline carried a total of 19.52 million passengers, an increase of nearly 11% from the same period last year. Domestic traffic was up 20%, offsetting a 9% drop in international traffic, which the airline predicts will remain depressed for the rest of the year in a “cold winter for the aviation industry.”
During the first half of the year the airline has added eleven narrow-body aircraft such as the A321 and B737-800 and retired eleven older aircraft including B767, B737-300/600 and B747-200Fs. It currently operates a fleet of 243 aircraft.