AIR CHINA 1ST-HALF NET PROFIT DOWN 77% AT CNY944.5 MLN
Hong Kong : Air China Ltd. said Tuesday its first-half net profit plunged 77% from a year earlier, hit by weaker demand for air travel as the global economy slowed, higher jet-fuel prices and foreign-exchange losses.
The Chinese flag carrier said its net profit for the six months ended June 30 was 944.5 million yuan (US$148.7 million), according to international accounting standards, down from CNY4.06 billion a year earlier.
Air China in July warned investors that its first-half net profit would likely fall by more than 50% from a year earlier.
28/08/2012 : Joanne Chiu / The Wall Street Journal.
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