Air China’s full year 2011 earnings plunge 42.7%

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Air China's full year net profit for 2011 declined by 42.7% to yuan (CNY) 7.06 billion ($1.12 billion), compared with CNY12.3 billion in 2010.

The Star Alliance carrier's total revenue rose by 19.3% to CNY98.4 billion in 2011, compared with CNY82.5 billion in the previous year.

The carrier's operating profit declined by 42.7% to CNY6.26 billion, while its operating expenses for the year rose by 28.8% to CNY92.1 billion.

In 2011, Air China's fuel costs amounted to CNY34.7 billion, an increase of 44% year on year from CNY24.1 billion.

The carrier's domestic capacity as measured in ASKs increased by 17.8% while its RPKs rose by 21.9% from the previous year.

Air China carried 59.4 million passengers, up by 18.3% year on year, with a load factor of 83.17%, an increase of 2.77 percentage points year on year.

Air China introduced 58 aircraft and retired 19 aircraft, including Boeing 757-200s and 737-300s from its fleet. As at the end of 2011, the airlines' fleet comprised 432 aircraft with an average age of 6.77 years.