Air China 0753

Air China 0753

Postby winston » Wed Jun 04, 2008 10:15 am

Air China wins provisional approval for additional A-shares issue

HONG KONG (XFN-ASIA) - Air China Ltd said it obtained provisional approval from the China Securities Regulatory Commission (CSRC) for the issue of additional A-shares.

It said the company lodged an application with CSRC's review committee on Monday and the application was approved under certain conditions.

Air China did not specify the number of additional A-shares that it plans to issue.
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Re: Air China 0753

Postby winston » Tue Jun 17, 2008 10:23 am

Air China <0753.HK> carried 10.7 percent fewer passengers in May amid slower demand and the cancellation of 985 flights after the earthquake in Sichuan.
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Re: Air China 0753

Postby winston » Mon Jul 14, 2008 11:03 am

Merrill Lynch said the 60-percent decline in Air China's share price "more than discounts a tougher environment."

Merrill Lynch also raised its target price on Air China, the top international carrier in the mainland, by 12 percent to HK$5.20.

"We anticipate a strong rebound in traffic and fortunes in the second half of 2008 and see Air China's financial strength as beneficial ahead of a potential consolidation of the industry," Merrill Lynch said.
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Re: Air China 0753

Postby winston » Fri Jul 18, 2008 1:27 pm

Not vested.

Air China said Wednesday that it planned to buy 45 Boeing jets in one of China's biggest airliner purchases.

The order comprises 15 Boeing 777s and 30 Boeing 737s, Air China said on its Web site. Air China said that the total list price for the planes was $6.3 billion but that the final price would be lower.

Air China said the purchase would increase its fleet capacity by about 35 percent and help to reinforce Beijing's status as a transportation hub.

Air travel in China is forecast to grow by 9 percent annually in coming years, driven by an economy that grew by 10.6 percent in the first quarter.

Air China's first-quarter profits jumped 147 percent, helped by the travel boom and the rise of the yuan against the dollar.

– International Herald Tribune
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Re: Air China 0753

Postby winston » Sat Aug 16, 2008 9:26 am

Air China's July traffic falls 6.8pc

Air China (0753), Beijing's biggest carrier, posted a 6.8 percent decline in passenger numbers last month as China restricted travel to the city in preparation for the Olympic Games.

The airline, also China's largest international carrier, moved 2.98 million passengers in July, it said in an e-mailed statement. Passenger load factor was 73.3 percent, down 8.1 percentage points from a year ago, while cargo volume rose 7.8 percent to 81,626 tonnes, it said.

China tightened security checks, visa regulations and curbed flights to guarantee safety and ease congestion during the Beijing Olympic Games.

''Losses in July and August are unavoidable for airlines,'' said Ma Ying, an analyst at Haitong Securities Co. in Shenzhen. ''We can only expect a rebound in demand after the Olympics.''
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Re: Air China 0753

Postby winston » Fri Sep 12, 2008 5:10 pm

Not vested.

Air China (0753.HK: Quote, Profile, Research, Stock Buzz) said China Securities Regulatory Commission has granted a waiver to China National Aviation Holding Company, allowing the parent company to buy an additional 350 million shares in the market without triggering a mandatory general offer, a move that would allow the parent to increase its holding in the airline to 54.52 percent from 51.66 percent.
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Re: Air China 0753

Postby winston » Fri Sep 12, 2008 10:56 pm

Not vested.

Air China reports drop in passengers


Air China (0753) reported the largest monthly drop in passengers in August since the 2003 SARS outbreak, as the government restricted travel for Olympic Games in Beijing.

The airline carried 2.77 million passengers last month, down 16.6 percent from a year earlier. Its passenger load factor was 71.1 percent, down 13 percentage points from a year ago, while cargo volume fell 4.1 percent to 75,038 tonnes.
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Re: Air China 0753

Postby winston » Wed Oct 29, 2008 10:59 am

Air China books net loss in Q3 on high jet fuel costs, lower demand

BEIJING (XFN-ASIA) - Air China Ltd (SHA 601111; HK 0753), one of the country's top three airlines, said it posted a net loss of 1.94 bln yuan in the third quarter, following a profit of 2.19 bln a year earlier, due to high jet fuel costs and lower market demand.

In its financial results filed with the Shanghai Stock Exchange, the company said operating revenue in the third quarter fell 3.84 pct year-on-year to 13.92 bln yuan, with operating costs up 24.39 pct at 15.09 bln yuan.

The rise in crude oil prices resulted in an increase of 2.663 bln yuan in jet fuel costs, up 64 pct year-on-year, Air China said.

The airline said it booked a loss from investments in associate companies and joint ventures of 261.38 mln yuan, against a gain of 552.37 mln a year earlier.

In addition, the company also booked a loss from changes in fair value of 1.064 bln yuan, against a loss of 58.47 mln a year earlier.

"Due to the recent dramatic decline in international crude oil prices, the fair value of the fuel derivatives held was minus 961 mln yuan on Sept 30," the company said.

The fair value of the fuel derivatives is subject to further changes as crude oil prices, and financial markets adjust, it said.

The company said that the settled portion of the fuel derivatives has generated accumulated realized revenue of 378 mln yuan during the January to September period.

Operating revenue in the first nine months rose 6.61 pct year-on-year to 39.68 bln yuan despite lower passenger traffic, but operating costs were up 18.78 pct at 40.14 bln yuan.

The company carried 25.25 mln passengers and 685,400 tons of cargo in the first nine months, down 4 pct and 1.4 pct respectively from a year earlier. The overall passenger load factor for January-September stood at 74.6 pct, down 3.7 percentage points from a year earlier, while the cargo load factor was 57.6 pct, up 3.4 percentage points.

Loss per share for the nine months stood at 0.055 yuan, against EPS of 0.287 a year earlier, while the loss per share in the third quarter was 0.163 yuan, compared to EPS of 0.184 previously.

The company did not provide a forecast for the rest of the year.
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Re: Air China 0753

Postby winston » Sat Nov 08, 2008 9:08 am

SHANGHAI - Air China Ltd. has received central government approval to raise its stake in Cathay Pacific Airways Ltd. , an official newspaper reported on Friday, paying about US$693 million to double its 10 percent stake.
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Re: Air China 0753

Postby winston » Fri Jan 09, 2009 2:31 pm

BROKER CALL -Air China price target cut 11 pct on fuel hedging loss fears - Citi

BEIJING (XFN-ASIA) - Citigroup said it has slashed its price target on Air China by 11 pct to 1.15 hkd on concerns over fuel hedging losses after Cathay Pacific warned of a 7.6 bln hkd loss from fuel contracts.

Air China owns 17.5 pct of Cathay and Citigroup said the Chinese flag carrier's fuel hedging loss may surge to 5 bln yuan. The brokerage said the combined hit on Air China's book value could be as much as 22 pct.

It said Air China could incur a loss of 7.7 bln yuan for 2008, significantly higher than consensus estimates of a 2 bln yuan deficit. Air China's Hong Kong-listed shares closed the morning down 2.97 pct at 2.29 hkd. Citigroup has a "sell" rating on the company.
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