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Air China says first-half profit up 60 percent

Thursday, 26 August 2010 14:55


NEWS - China Transportation

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BEIJING — Air China Ltd., one of China's three major state-owned airlines, said Thursday its first-half profit rose 60 percent over a year earlier as passenger travel and cargo recovered from the global crisis.

Profit for the six months ending June 30 was 4.6 billion yuan ($675 million), or 0.39 yuan (5.7 U.S. cents per share), up from 2.9 billion yuan a year ago, the Beijing-based carrier said. Revenue rose 53 percent to 34.3 billion yuan ($5 billion).

Revenue from passenger operations rose 49 percent to 28.6 billion yuan ($4.2 billion) and from cargo operations by 127 percent to 4.5 billion yuan ($658 million).

"Operating results hit historical high and increased significantly as compared with the same period last year," the airline said in a statement.

It said operations were boosted by the gradual global recovery, China's rapid growth and tourist travel to the Shanghai World Expo.