Air China Q1 profits down 16.3%

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Air China has reported a first quarter net profit of 1.81 billion yuan ($278 million), down 16.3% from a year before.

Revenue from operations surged 44.6% to 21.3 billion yuan for the quarter ended 31 March 2011, compared with 14.7 billion yuan for the same period last year, says China's flag carrier.

Operating costs rose 43.9% to 19.4 billion yuan from a year ago, adds the Star Alliance carrier.

The airline's operating profit decreased 11.5% to 2.24 billion yuan from the corresponding quarter last year, says Air China.