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Air China posts 73.87% plunge in net profit for H1

Aug. 29, 2012 (China Knowledge) - Air China Ltd<601111><0753>, the largest carrier in the country by market value, announced yesterday that its net profit in the first half fell 73.87% YoY to RMB 1.06 billion under Chinese accounting rules.

The company attributed the sharp decline in net profit mainly to high fuel cost, weak demand for air travel and an exchange loss.

The company's operating revenue climbed 5.38% YoY to RMB 47.56 billion in the firs six months.

The air carrier saw its passenger volume grow 3.3% YoY to 34.75 million in the period and its passenger load factor fall 0.71 percentage points to 80.04%.

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