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Air China Grows Revenue 17%, Nearly Triples EPS in First Half of 2007
BEIJING, September 10 /PRNewswire/ -- Air China has announced its interim results for the six months
ended June 30, 2007. During the period, the airline produced operating
revenue (including air traffic revenue and other operating revenue) of US$3.4
million (RMB23,353 million), a 17.2% increase over the same period last year.
Net profit was 6.7%, US$200 million (RMB1,569 million), as Air China
continued to outperform its domestic peers. Earnings per share nearly
tripled, rising 169% from RMB0.049 in the first half of 2006 to RMB0.132.
(Air China results are reported according to International Financial
Reporting Standards.)
Total passenger traffic (RPKs) in the first half rose 14.4%,
to 17.6 billion domestic and 14.2 billion international RPKs. As well, Air
China proceeded with its announced plan to join the worldwide Star Alliance,
now meeting 21 of the 57 entry requirements, and launched new code sharing
with Hong Kong's Cathay Pacific Airways. The company also strengthened its
cooperation with such airlines as Lufthansa, United Airlines, Scandinavian
Airlines, Air New Zealand, Austrian Airlines, and Korea's Asiana Airlines.
The airline continued to improve service quality, including
product upgrades to first and business class cabins on long-haul aircraft,
and focused development at its three main hubs of Beijing, Shanghai, and
Chengdu. Marketing efforts in relation to the Beijing 2008 Olympics, for
which Air China is the sole airline partner, progressed smoothly.
Speaking of the first half, Mr. Li Jiaxiang, Chairman of Air
China, said, "The Company captured opportunities in the market and has
achieved remarkable improvement in operating efficiency. We continue to make
significant progress in transforming our organization, expanding our hub and
route networks, improving customer service systems, and further enhancing the
Air China brand."
European Press Contact for Air China
Susanne Sothmann
Tel. +49-89-76759434
E-mail: ssothmann@kafka-kommunikation.de
