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Air China Limited Announces 2007 Annual Results.

Article Excerpt
-- Operating revenue grew 14.2% y-o-y to RMB51.33 billion



-- Net profit attributable to shareholders grew 57.3% y-o-y to RMB4.23 billion -- Basic earnings per share grew 34% to RMB35.6 cents -- Recommended year-end dividend was RMB0.0684 per share

HONG KONG, March 24 /Xinhua-PRNewswire/ -- Air China Limited (''Air China'' or ''the Company,'' together with its subsidiaries, collectively ''the Group'') (HKEx: 753; LSE: AIRC; SSE: 601111; ADR OTC: AIRYY), China's national flag carrier, today announced its financial results for the twelve months ended December 31, 2007 (''the Period'').

Financial Highlights

In fiscal year 2007, according to International Financial Reporting Standards (''IFRS''), the Company's operating revenue increased by 14.2% to RMB51.33 billion from RMB44.94 billion in 2006. This increase was primarily attributed to the continued solid growth of passenger and cargo services. Passenger and cargo revenue saw a 14.7% increase to RMB47.7 billion, from RMB41.6 billion in 2006. The growth in revenue was a combined result of improvements in capacity and load factor.

Total operating expenses increased by 12% to RMB47.5 billion from RMB42.4 billion in 2006, which was primarily attributed to the increase in fuel prices and consumption. Against the backdrop of high and volatile oil prices, total fuel costs of RMB17.2 billion, accounted for 36% of total operating expenses, against 37% in 2006. The increase in fuel costs was partially offset by hedging, which helped reduce...

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