Air China says Q1 net profit surged due to cheaper fuel
Add BT as a preferred source
[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
Share with us your feedback on BT's products and services
TRENDING NOW
DBS COO’s most important tip for AI transformation: Lead with ‘why’
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
