Air China expects to double profit in 2010

AIR CHINA has estimated a 2010 net profit increase of 200 per cent year-on-year from CNY5.03 billion (US$759.8 million) attributed to robust demand in both passenger and cargo sectors.

Cargo volumes are expected to increase 10.7 per cent to 6.2 million tonnes from 5.6 million with passenger growth of 12.3 per cent to 300 million from 267 million according to Civil Aviation Administration of China (CAAC).

"Benefiting from the rapid growth of the macro-economy of China and the steady recovery of the global economy, the company was able to seize the market opportunity of a strong demand for both passenger and cargo transportation services," said the flag carrier, according to Agence France-Presse.

The preliminary forecast did not specify revenue for 2010 but is due to release its earnings report late March.
(Source:www.schednet.com)