CHINA'S BIG THREE REPORT 2012 PROFIT DECLINES

摘要

Air China, China Eastern and China Southern Airways have all reported significant profit declines for 2012. The carriers cited a rapid increase in capacity, intensifying market competition, higher fuel prices and a sharp decrease of exchange gains for the decline. Air China reported a 2012 net profit of CNY4.95 billion ($788 million), down 33.8% compared to CNY7.5 billion in 2011.