Air China Q3 Profit Drops 93 Percent
Air China reported a 92.6 percent drop in third quarter net profit as rising fuel costs and intense competition weighed on fares. The carrier posted a net profit of 270.6 million yuan for the July to September period, despite a 5.4 percent rise in revenue.
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AIR CHINA LTD-H posted a 92.6% plunge in third-quarter net profit, falling to 270.6 million yuan ($40.6 million) as rising fuel costs and intense competition pressured margins. The sharp quarterly drop highlights ongoing earnings volatility for carriers across China. Investors face continued equity headwinds as industry competition suppresses ticket fares.
