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 ...

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