Air China, the country's largest air carrier, reported a net
profit of 3.19 billion yuan (US$388.75 million) in 2006, according
to the company's annual report.
The figure represented a rise of 86.71 percent from 2005.
Air China's IPO in August last year raised approximately 4.5
billion yuan on the Chinese mainland A-share market.
The company has used about 2.3 billion yuan of the IPO cash, and
the remainder will pay for 20 Airbus A330-200, 15 Boeing 787 and 10
Boeing 800 aircraft.
The money will also be used to build a base at the Beijing
Capital International Airport, including aircraft repair and
maintenance, cargo handling, catering facilities and ground
services.
Air China carried 31.5 million passengers last year, 13.8
percent more than the previous year. Its flight occupancy rate was
75.9 percent, a rise of 1.8 percent.
The volume of cargo and mail transported by Air China totaled
3.28 billion ton kilometers last year, 19 percent more than the
previous year.
Air China had 207 passenger and cargo aircraft at the end of
2006.
(Xinhua News Agency March 21, 2007)