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Air Chin pantalon slim a's Q3 net profit hits RMB 885.3 mln<br>
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Air China's Q3 net profit hits RMB 885.3 mlnPublished: 28 Oct 2009 01:26:46 PST
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Oct. 28, 2009 (China Knowledge) - Air China Ltd<601111><0752>, the country's flagship carrier, Tuesday said the company has returned to profit in the third quarter of this year, thanks to fuel-hedging gains and a warming-up of the domestic air travel market since the beginning of this year.
The Beijing-based carrier's net profit in the third quarter totaled RMB 885.3 million, compared with a net loss of RMB 1.97 billion a year ago, the company said in a statement.
Air China reported a gain of RMB 2.02 billion from fuel hedging contracts.
In the first nine months of the year, Air China's passenger volume rose 17% year on year to 29.52 million. The number of passengers on international routes dropped nearly 3% to 3.89 million in the period, and cargo volume fell 2.74% year on year due to the global economic downturn.
China Eastern Airlines Ltd<600115><0670><CEA> and China Southern Airlines Ltd<600029><1055><ZNH>, two of China's three airline giants, have also reported earnings results for the third quarter of this year.
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