Home > Airlines > Air China drives total revenue up by 11.96% in H1 2018

Air China drives total revenue up by 11.96% in H1 2018

08/31/2018| 10:24:48 AM|

Revenue rose 11.96% year-on-year to ¥64.242 billion, of which air passenger revenue was up 11.55% year-on year to ¥56.894 billion.

Air China announced its results for the 6 months ended June 30, 2018.

Financial Highlights

The Group recorded a revenue of RMB 64.242 billion in the first half of 2018, an increase of 11.96% from the same period last year. Air passenger revenue was up 11.55% year-on year to RM 56.894 billion while air cargo revenue was up by 13.12% year-on-year to RMB  5.075 billion.

Operating expenses increased by 12.53% from RMB 52.939 billion to RMB 59.574 billion. Jet fuel cost recorded a year-on-year increase of RMB 3.953 billion, up by 29.00% from the same period last year, mainly due to the increase in the consumption and the process of jet fuel. An increase of 6.82% for operating expenses is recorded after excluding jet fuel cost, lower than the increase of revenue.

Business Review

In the first half of 2018, the Company’s capacity measured by Available Tonne Kilometers (ATK) was 19.094 billion, representing a year-on-year increase of 11.39%. Traffic measured by Revenue Tonne Kilometers (RTK) was 13.375 billion, representing a year-on-year increase of 10.61%.

In the first half of 2018, the Group carried a total of 53.75 million passengers, a year-on-year increase of 9.25%. Passenger capacity, measured by Available Seat Kilometers (ASK), increased by12.44% to 133.800 billion. Capacity for domestic, international and regional routes rose by 9.97%, 17.08% and 7.71% respectively. 

Overall passenger traffic, measured by Revenue Passenger Kilometers (RPK) increased by 11.68% to 107.680 billion. Traffic on domestic, international and regional routes increased by 8.89%, 16.35% and 14.84% year-on-year respectively. Passenger load factor decreased slightly by 0.54 percentage points to 80.48%. 

In the first half of 2018, the Group introduced 15 aircraft, and phased out 8 aircraft. The total fleet size was 662 aircraft, with an average age of 6.74 years.

In the first half of 2018, the Company newly launched (resumed routes included) 28 domestic and international routes, comprising 21 domestic and 7 international routes.

As at the end of June 2018, the Company’s passenger routes have expanded to 434 in total, across six continents of the world, comprising 308 domestic, 109 international and 17 regional routes. The Company’s network covered 42 countries and regions and 189 cities, including 69 international, 4 regional and 116 domestic cities. Through Star Alliance, the Company’s route network extended to 1,317 destinations in 193 countries.

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TAGS: Air China | financial statement
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