Air China Limited Class A · SSE:601111
Air China Limited Class A — Q1 2011 Earnings Presentation
19 slides from Air China Limited Class A's earnings presentation, April 2011
Slide 1: Air China Limited 2011 First Quarter Results
Air China Limited 2011 First Quarter Results Under PRC GAAP, unaudited Apr 2011
Slide 2: Agenda
Agenda 2011 First Quarter Results ● Highlights ● Business Overview ● Financial Overview 2
Slide 3: Highlights
Highlights AIR CHINA . Ji PARRAELA 3 A STAR ALLIANCE MEMBER &F
Slide 4: Highlights
Highlights Key Financial Metrics 1Q 2011 1Q 2010 Y-o-Y Change Turnover (RMB million) 21,251.1 14,696.4 44.60% Operating expenses (RMB million) 17,120.2 11,569.9 47.97% Profit from operations (RMB million) 2,247.5 2,540.5 -11.53% Profit attributable to equity holders (RMB million) 1,671.3 2,171.7 -23
Slide 5: Business Overview
Business Overview AIR CHINA Ji PARRAELA SS) A STAR ALLIANCE MEMBER %
Slide 6: Passenger Services - Air China
Passenger Services - Air China 1Q 2011 Y-o-Y Change Q-o-Q Change ASK (Million) 27,598.8 6.83% 1.78% RPK (Million) 21,909.3 7.61% 1.83% Passenger carried (Thousand) 11,439.0 7.06% 0.60% Load factor (%) 79.4 0.58pts 0.04pts 6
Slide 7: Passenger Services - Air China
Passenger Services - Air China 1Q2011 Y-o-Y ASK Y-o-Y RPK Y-o-Y Load Change (Million) Change (million) Change factor (%) Domestic 16,149.1 2.90% 13,144.8 8.78% 81.4 5.71pts International 10,495.2 13.26% 8,039.3 5.48% 76.6 -5.65pts - Europe 3,918.0 10.27% 2,936.5 0.75% 75.0 -7.08pts - America 2,385.5
Slide 8: Air China Cargo
Air China Cargo 1Q 2011 Y-o-Y Change Q-o-Q Change AFTK (million) 1,841.9 3.28% -6.23% -Freighter AFTK (million) 640.6 1.76% -20.88% RFTK (million) 1,035.1 0.76% -18.34% -Freighter RFTK (million) 505.2 -1.78% -25.11% Tonnage carried (Thousand tonne) 272.2 2.94% -13.02% -Freighter tonnage carried 92.4
Slide 9: Shenzhen Airlines
Shenzhen Airlines 1Q 2011 Y-o-Y Change Q-o-Q Change ASK (million) 7,882.9 7.75% 8.93% RPK (million) 6,382.3 8.84% 8.86% ATK (million) 836.2 4.85% 9.36% RTK (million) 659.3 9.39% 5.38% Passenger carried 4,413.2 3.11% 5.43% (Thousand) Passenger load factor (%) 81.0 0.81pts -0.05pts ATK load factor (%)
Slide 10: Air Macau
Air Macau 1Q 2011 Y-o-Y Change Q-o-Q Change ASK (million) 873.2 14.88% 12.39% RPK (million) 538.2 -1.09% 2.72% ATK (million) 105.8 19.44% 2.42% RTK (million) 60.2 -3.24% -7.63% Passenger carried 320.6 -6.44% -1.09% (Thousand) Passenger load factor (%) 61.6 -9.95pts -5.80pts ATK load factor (%) 56.9
Slide 11: Financial Review
Financial Review AIR CHINA Ji PARRAELA 11 A STAR ALLIANCE MEMBER %
Slide 12: Financial Analysis
Financial Analysis （ RMB million ） 1Q2011 1Q2010 Y-o-Y Change Turnover 21,251.1 14,696.4 44.60% Operating expenses 17,120.2 11,569.9 47.97% Gains from movements in fair value 94.8 938.2 -89.89% Investment income 324.4 406.3 -20.16% Profit/(loss) from operations 2,247.5 2,540.5 -11.53% Profit/(loss)
Slide 13: Appendix Other Financial and Operational Data
Appendix Other Financial and Operational Data 13
Slide 14: Fleet – Air China
1 Fleet – Air China As of March 31, 2011 Deliveries Finance Operating Average Sub-total Owned 2011 2012 2013 Lease Lease Age A319 33 21 9 3 6.0 0 0 0 A320/A321 45 8 26 11 2.9* 14 14 10 A330 25 5 17 3 3.1 5 6 9 A340 6 5 1 12.8 0 0 0 B737 128 57 22 49 7.6* 9 9 11 B747 9 7 2 14 0 0 0 B757 10 10 16.2 0
Slide 15: Fleet – Shenzhen Airlines
2 Fleet – Shenzhen Airlines As of March 31, 2011 Deliveries Finance Operating Average Sub-total Owned 2011 2012 2013 Lease Lease Age A319 5 3 0 2 4.8 0 0 0 A320 40 30 0 10 2.3 9 12 7 B737 51 22 5 24 7.7 10 6 10 TOTAL 96 55 5 36 5.3 19 18 17 15
Slide 16: Balance Sheet (Condensed)
3 Balance Sheet (Condensed) (RMB million) As of March 31, 2011 As of Dec 31, 2010 Y-o-Y Change Non-current assets 89,760 88,225 1.74% Current assets 20,852 20,988 -0.65% – Cash and bank balances 14,580 15,011 -2.87% Total assets 158,339 155,220 2.01% Current liabilities 50,457 50,633 -0.35% Non-curr
Slide 17: Cash Flow Statement (Condensed)
4 Cash Flow Statement (Condensed) (RMB million) Jan – Mar 2011 Jan – Mar 2010 Y-o-Y Change Net cash flow from operating 3,566 2,520 41.51% activities Net cash flow from investing -2,992 -2,968 -0.82% activities Net cash flow from financing -174 2,136 -108.14% activities Effect of exchange rate chang
Slide 18: Borrowings and Obligations
5 Borrowings and Obligations RMB million RMB USD HKD EUR Sub-total (as of Mar 31 2011) denominated denominated denominated denominated Bank loans and 56,797 6,465 44,438 5,668 226 notes Finance lease 18,462 1,139 17,324 obligation Bond 9,000 9,000 Total 84,259 16,604 61,762 5,668 226 Weight (%) 100
Slide 19: Investor Relations - Beijing
Investor Relations - Beijing Rao Xinyu Tel: +8610-6146 2777 Fax: +8610-6146 2805 E-mail: raoxinyu@airchina.com Wang Kai Tel: +8610-6146 2799 Fax: +8610-6146 2805 E-mail: kai@airchina.com Website: www.airchina.com.cn