Date
15 December 2017

Air China hit hard as yields tumble, SCMP says

Air China said net profit sank 32 per cent last year to 3.26 billion yuan (US$530 millon) as revenue per passenger slid and air cargo operations bled from soft demand and overcapacity in the industry, the South China Morning Post reported Wednesday. Air China said high-speed rail and low-cost carriers on the mainland will also increase competition on domestic routes. The carrier flew 77.6 million passengers last year, up 7.3 per cent year on year, but passenger revenue dropped 2 per cent to 87.47 billion yuan as sales from domestic flights slid 5 per cent to 59.7 billion yuan, the report said.

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