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Air China Q3 profit falls YOY

Air China Ltd. said its third-quarter normalized net income came to 15 fen per share, a decrease of 8.8% from 17 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 1.87 billion yuan, a decline of 7.9% from 2.02 billion yuan in the prior-year period.

The normalized profit margin fell to 6.0% from 6.8% in the year-earlier period.

Total revenue climbed year over year to 31.23 billion yuan from 29.81 billion yuan, and total operating expenses fell on an annual basis to 24.63 billion yuan from 25.79 billion yuan.

Reported net income fell 13.2% year over year to 2.33 billion yuan, or 19 fen per share, from 2.69 billion yuan, or 22 fen per share.

As of Oct. 29, US$1 was equivalent to 6.36 yuan.