Air China has reported a 2013 net profit of CNY3.26 billion ($530 million) based on international accounting standards, down 32% compared to a net income of CNY4.82 billion in 2012. Revenue fell 1.3% to CNY98.18 billion while expenses rose 3.29% to CNY94.06 billion. Fuel costs decreased 5.38% to CNY33.72 billion. The Beijing-based carrier cited declining yields, decelerating economic growth and intensifying competition for the sharp profit decline. Passenger boardings increased 7.27% to ...

Subscribe to Access this Entire Article

"Air China’s net profit drops 32% in 2013 " is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.