Companies

Air China H1 profit jumps 60%

(Xinhua)
Updated: 2010-08-27 09:34

BEIJING - Air China, the country's leading air carrier, said Thursday its first half profit jumped over 60 percent year-on-year due to booming demand for air travel and air freight.

Special Coverage: 2010 Interim Results of Listed Companies Related readings:  Air China subsidiary to buy 10 Airbus planes for $814m  Chinese air carriers eye more intl flights  Air China seeks to buy Airbus, Boeing jets-rpt  Air China denies report of commissions cut

Net profits totaled 4.69 billion yuan ($675 million) and earnings per share stood at 0.41 yuan, up 64 percent year-on-year, the company said in a statement filed with the Shanghai Stock Exchange.

The Beijing-based carrier said revenues from its passenger operations rose 47.76 percent to 29.4 billion yuan, while that from cargo operations jumped 109.07 percent to 4.13 billion yuan.

Additionally, the company said its profit surge was largely due to rising demand for air traffic services as the global economy recovered from the recession and the national economy maintained its relatively fast growth during the first half of the year.

Shares of the carrier on the Shanghai bourse rose 0.61 percent to 11.46 yuan Thursday.