Slide 1: Air China Limited 2011 Third Quarter Results
Air China Limited 2011 Third Quarter Results Under PRC GAAP, unaudited October 2011
Slide 2: Agenda
Agenda Highlights Business Performance Financial Review 2
Slide 3: Highlights
Highlights 3
Slide 4: Highlights
Highlights Key Financial Metrics 3Q2011 Y-o-Y Change Jan – Sep 2011 Y-o-Y Change ＊ Turnover (RMB million) 28,144.2 13.36% 73,274.5 23.91% Operating expenses (RMB million) 20,308.9 18.42% 56,112.9 27.24% Profit from operations (RMB million) 5,406.2 -20.81% 10,727.6 -12.01% Profit attributable to equi
Slide 5: Business Performance
Business Performance 5
Slide 6: Passenger Services - Air China
Passenger Services - Air China 3Q2011 Y-o-Y Change Jan – Sep 2011 Y-o-Y Change ASK (Million) 29,446.6 4.78% 85,174.7 6.06% RPK (Million) 25,085.0 7.41% 70,240.5 8.57% Passenger carried 13,228.8 3.57% 36,972.5 6.02% (Thousand) Load factor (%) 85.2 2.08pts 82.5 1.90pts 3Q2011 Q-o-Q 2Q2011 Q-o-Q 1Q2011
Slide 7: Passenger Services - Air China
Passenger Services - Air China 3Q2011 ASK Y-o-Y RPK Y-o-Y Load Y-o-Y (Million) Change (million) Change factor (%) Change Domestic 17,238.8 1.63% 14,870.1 5.52% 86.3 3.18pts International 11,110.5 9.32% 9,317.0 9.75% 83.9 0.33pts - Europe 4,497.8 11.85% 3,847.7 12.23% 85.6 0.29pts - North America 2,7
Slide 8: Passenger Services - Air China
Passenger Services - Air China Jan – Sep 2011 ASK Y-o-Y RPK Y-o-Y Load Y-o-Y (Million) Change (million) Change factor (%) Change Domestic 50,137.8 3.17% 42,014.5 8.41% 83.8 4.05pts International 31,983.3 10.62% 25,793.9 8.38% 80.7 -1.67pts - Europe 12,843.3 14.64% 10,409.2 12.06% 81.1 -1.86pts - Nor
Slide 9: Air China Cargo
Air China Cargo Y-o-Y Jan – Sep Y-o-Y 3Q 2011 Change 2011 Change AFTK (million) 1,901.4 1.42% 5,641.9 3.25% - Freighter AFTK (million) 683.6 -1.24% 2,046.0 3.26% RFTK (million) 1,113.4 -2.15% 3,302.7 1.21% - Freighter RFTK (million) 539.2 -4.33% 1,626.4 0.29% Tonnage carried (Thousand tonne) 286.6 -
Slide 10: Shenzhen Airlines
Shenzhen Airlines Y-o-Y Y-o-Y 3Q2011 Jan – Sep 2011 Change Change ASK (million) 9,088.1 10.86% 25,344.7 9.42% RPK (million) 7,624.4 14.71% 20,905.1 12.85% ATK (million) 946.6 11.83% 2,657.5 8.23% RTK (million) 776.4 13.38% 2,153.4 12.49% Passenger carried 5,357.7 13.41% 14,613.6 9.20% (Thousand) Pas
Slide 11: Air Macao
Air Macao Y-o-Y Y-o-Y 3Q2011 Jan – Sep 2011 Change Change ASK (million) 820.9 3.35% 2,504.1 7.51% RPK (million) 603.7 4.40% 1,651.0 -0.60% ATK (million) 98.1 -0.70% 301.7 6.62% RTK (million) 67.0 1.24% 185.1 -3.84% Passenger carried 376.6 4.81% 1,026.2 -1.36% (Thousand) Passenger load factor (%) 73.
Slide 12: Financial Review
Financial Review 12
Slide 13: Financial Review
Financial Review Y-o-Y Y-o-Y ( RMB million ) 3Q2011 Jan – Sep 2011 Change Change Turnover 28,144.2 13.36% 73,274.5 23.91% Operating expenses 20,308.9 18.42% 56,112.9 27.24% Gain from change in fair value 37.9 -92.69% 77.2 -92.95% Investment income 583.9 -34.95% 1,224.0 -56.10% Profit/(loss) from ope
Slide 14: Appendix: Other Financial and Operational Data
Appendix Other Financial and Operational Data 14
Slide 15: Fleet – Air China
1 Fleet – Air China As of Sep 30, 2011 Deliveries Finance Operating Average Sub-total Owned Lease Lease Ages 2011 2012 2013 A319 33 21 9 3 6.49 - - - A320/A321 51 8 34 9 2.38 14 14 10 A330 27 6 17 4 3.32 5 6 7 A340 6 6 - - 13.31 - - - B737 132 60 22 50 7.69 9 9 11 B747 9 7 2 - 14.49 - - - B757 10 10
Slide 16: Fleet – Shenzhen Airlines
2 Fleet – Shenzhen Airlines As of Sep 30, 2011 Deliveries Finance Operating Average Sub-total Owned Lease Lease Ages 2011 2012 2013 A319 5 3 0 2 5.35 0 0 0 A320 43 31 3 9 2.41 9 8 7 B737 59 30 4 25 6.61 10 6 10 TOTAL 107 64 7 36 4.86 19 14 17 16
Slide 17: Consolidated Balance Sheet (Condensed) – Air China
3 Consolidated Balance Sheet (Condensed) – Air China （RMB million） As at Sep 30, 2011 End of 2010 Y-o-Y Change Non-current assets 98,943 88,225 12.15% Current assets 23,419 20,988 11.58% - Cash and bank balances 16,600 15,011 10,58% Total assets 171,421 155,220 10.44% Current liabilities 52,015 50,6
Slide 18: Consolidated Cash Flow Statement (Condensed) – Air China
4 Consolidated Cash Flow Statement(Condensed)–Air China （RMB million） Jan – Sep 2011 Jan – Sep 2010 Y-o-Y Change Net cash flow from operating 18,691 15,571 20.04% activities Net cash flow from investing activities -12,388 -9,102 36.09% Net cash flow from financing activities -3,913 -1,186 230.06% Ef
Slide 19: Borrowings and Obligations (Consolidated) - Air China
5 Borrowings and Obligations (Consolidated) - Air China RMB million RMB USD HKD EUR Sub-total (as of Sep 30 2011) denominated denominated denominated denominated Bank loans and 55,457 4,078 45,911 5,258 210 notes Finance lease 20,713 20,713 obligation Bond 9,000 9,000 Total 85,170 13,078 66,624 5,25
Slide 20: 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