Air China Profits Rise 2,000% – Jamil Anderlini

Air_China-1_1.jpg From Financial Times:

Air China on Wednesday said profits soared in the first half due to the strengthening Chinese , investment gains and a booming travel .

The carrier said its net increased more than 2000 per cent to at least 900m ($119m) for the first six months, up from the Rmb45m reported under Chinese accounting standards in the first half of 2006. By international accounting standards, the airline said it actually made Rmb458m in the first half of last year, with the difference arising from the fact that China’s accounting regime (which has since been revised) did not take into account the airline’s gains from hedging activity in the international jet fuel market. [Full Text]

[Image: ’s official logo from Daiwei.org]

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