Air China Quarterly Net Profit Plunges on Soaring Fuel Costs
By Kimberley Kao
Air 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 51.695 billion yuan for the three months ended September.
"Affected by the steep rise in oil price, the company's jet fuel costs have increased significantly, resulting in substantial year-on-year fluctuations in its profit indicators," Air China said.
For the first three quarters of the year, Air China's net loss stood at 2.015 billion yuan, compared with a net profit of 1.87 billion yuan in the same period a year earlier.
Air China's shares have fallen more than 30% in Shanghai trading and more than 40% in Hong Kong so far this year.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
October 29, 2026 23:56 ET (03:56 GMT)
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