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Air China reports 38.75% plunge in net profit for 2011

Mar. 28, 2012 (China Knowledge) - Air China Ltd<601111><0753>, the largest carrier in the country by market value, said yesterday that its net profit fell 38.8% year on year to RMB 7.48 billion last year, dragged down by higher impairment charge from retiring old aircraft.

Basic earnings per share were RMB 0.61 last year, and the Chinese flag carrier proposed a final dividend of 11.8 RMB cents per share.

The company's operating revenue grew 19.98% year on year to RMB 97.14 billion in 2011.

Air China saw its passenger throughput increased 5.3% year on year to 48.67 million and its cargo and mail throughput climbed 0.1% to 1.15 million metric tons.

The carrier's overall load factor rose 0.23 percentage points to 72.64% in 2011.

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