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Air China profit up 77pc to US$955 million as revenues rise 3.8pc
BEIJING's Air China has posted a 77 per cent year on year net profit increase to CNY6.77 billion (US$955 million) in 2015, drawn on revenues of CNY108.93 billion, up 3.8 per cent.
The carrier credited lower fuel prices and "exploding" international market demand as main reasons for much-improved performance.
Cargo capacity rose 18 per cent to 11.98 billion AFTKs while cargo revenue was up 15.2 per cent to 6.56 billion RFTKs.
Passenger boardings increased 8.2 per cent to 89.8 million with an average load factor of 80 per cent, up 0.04 point. Passenger capacity grew 11 per cent to 214.83 billion ASKs against an 11.01 per cent increase in passenger revenue to 171.71 billion RPKs.
Last year, Air China introduced 66 aircraft and retired 16 old aircraft. As of December 31, 2015, it operated 590 aircraft with an average fleet age of 6.2 years.
Looking ahead, the airline expects China's air transport market will continue to maintain rapid growth, but also warns that "increasingly fierce market competition" and exchange rate fluctuations still remain as challenges. In 2015, it recorded CNY5.16 billion in foreign exchange losses.
The carrier credited lower fuel prices and "exploding" international market demand as main reasons for much-improved performance.
Cargo capacity rose 18 per cent to 11.98 billion AFTKs while cargo revenue was up 15.2 per cent to 6.56 billion RFTKs.
Passenger boardings increased 8.2 per cent to 89.8 million with an average load factor of 80 per cent, up 0.04 point. Passenger capacity grew 11 per cent to 214.83 billion ASKs against an 11.01 per cent increase in passenger revenue to 171.71 billion RPKs.
Last year, Air China introduced 66 aircraft and retired 16 old aircraft. As of December 31, 2015, it operated 590 aircraft with an average fleet age of 6.2 years.
Looking ahead, the airline expects China's air transport market will continue to maintain rapid growth, but also warns that "increasingly fierce market competition" and exchange rate fluctuations still remain as challenges. In 2015, it recorded CNY5.16 billion in foreign exchange losses.
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