Air China Third-Quarter Net Profit Falls 93% as Fuel Costs Surge
Air China reported third-quarter net profit of 270.60 million yuan, down 93%, while revenue rose 5.35% to 51.69. The airline attributed the profit decline to sharply higher fuel costs.
By Kimberley KaoAir China posted a 93% drop in third-quarter net profit despite a rise in revenue, as sharply higher fuel costs eroded the bottomline.The Chinese flag carrier reported a net profit of 270.60 million yuan, equivalent to $40.6 million, it said late Thursday.Revenue rose 5.35% to 51.69…