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Air China Q3 profit climbs 33.1% YOY

Air China Ltd. said its normalized net income for the third quarter was 29 fen per share, an increase of 20.9% from 24 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.82 billion yuan, an increase of 33.1% from 2.87 billion yuan in the prior-year period.

The normalized profit margin climbed to 11.0% from 9.0% in the year-earlier period.

Total revenue grew 9.1% year over year to 34.84 billion yuan from 31.92 billion yuan, and total operating expenses rose 8.8% from the prior-year period to 27.92 billion yuan from 25.66 billion yuan.

Reported net income grew 31.4% on an annual basis to 4.95 billion yuan, or 37 fen per share, from 3.77 billion yuan, or 31 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.