Air China says Q1 net profit surged due to cheaper fuel

Air China Ltd, the country's flag carrier, said late on Wednesday its net profit jumped to 1.7 billion yuan from 93 million yuan a year earlier, helped by a significant fall in jet fuel prices. 

PHOTO: BLOOMBERG

30 Apr10:48 AM

[BEIJING] Air China Ltd, the country's flag carrier, said late on Wednesday its net profit jumped to 1.7 billion yuan from 93 million yuan a year earlier, helped by a significant fall in jet fuel prices.

Fuel expense makes up about 40 per cent of airlines' overall operating costs.

Air China's Hong Kong-listed shares closed down 1.85 per cent ahead of its quarterly earnings announcement on Wednesday, lagging a 0.15 per cent fall of the Hang Seng index.

REUTERS