Air China Ltd.
In the news
- Private carriers lead China's aviation rebound from coronavirus Jul 21, 2020
- China's top airlines receive domestically made ARJ21 aircraft Jun 28, 2020
- Governance group questions role of Cathay bailout 'observers' Jun 26, 2020
- Bailout of Hong Kong's Cathay Pacific gets investors' scrutiny Jun 10, 2020
- Hong Kong government leads $5bn bailout of Cathay Pacific Jun 9, 2020 See more articles on Air China Ltd.
Company Background
Air China, a state-owned enterprise, is one of the country's top three carriers, alongside China Eastern Airlines and China Southern Airlines. Air China is a national flag carrier used by the country's top dignitaries, including the president and premier, when they fly domestically and internationally.
The airline's predecessor was a civil aviation arm of China's air force. It was brought under direct government control in 1980. The carrier was then split up, with what is now Air China taking over the Beijing base of operations and international routes. In another round of reorganization in 2002, the spinoffs were consolidated into Air China, China Eastern and China Southern.
Air China is headquartered at Beijing Capital International Airport. It is a member of Star Alliance and has a capital tie-up with Hong Kong's Cathay Pacific Airways. It boasts the largest international network of the major Chinese airlines.
Its leading shareholder is the state-owned China National Aviation Holding. Critics say privatization and service enhancements are needed to boost Air China's competitiveness.
Business Summary
Financial Highlights
| Dec 2019 | HKD | USD |
| Revenue | 154,417.52M | 19,708.18M |
| Gross Profit | 19,449.34M | 2,482.30M |
| Operating income | 12,008.77M | 1,532.66M |
| Income before tax | 9,802.71M | 1,251.11M |
| Net income | 7,280.07M | 929.15M |
| EBITDA | 36,137.47M | 4,612.19M |
| Diluted EPS | 0.53 | 0.06 |
| Dividends Per Share | 0.04 | 0.00 |
| Total Assets | 329,097.89M | 42,236.44M |
| Total liabilities | 215,295.23M | 27,631.00M |
| Total equity | 104,542.44M | 13,416.98M |
| Operating cash flow | 39,004.95M | 4,978.17M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 134,558.19M | 133,368.48M | 140,112.43M | 162,002.97M | 154,417.52M |
| Gross Profit | 25,444.63M | 25,583.28M | 17,913.93M | 18,899.33M | 19,449.34M |
| Operating income | 18,239.26M | 19,625.34M | 10,819.65M | 12,132.91M | 12,008.77M |
| Income before tax | 9,541.03M | 11,906.96M | 13,678.48M | 10,930.40M | 9,802.71M |
| Net income | 8,712.50M | 7,955.94M | 8,353.33M | 8,706.51M | 7,280.07M |
| EBITDA | 34,199.15M | 35,288.63M | 26,414.59M | 29,223.87M | 36,137.47M |
| Diluted EPS | 0.70 | 0.64 | 0.62 | 0.63 | 0.53 |
| Dividends Per Share | 0.12 | 0.12 | 0.14 | 0.11 | 0.04 |
| Total Assets | 254,970.04M | 249,960.51M | 282,878.44M | 277,856.12M | 329,097.89M |
| Total liabilities | 174,837.62M | 164,048.67M | 168,311.98M | 163,252.47M | 215,295.23M |
| Total equity | 71,309.60M | 76,755.29M | 103,295.39M | 106,232.63M | 104,542.44M |
| Operating cash flow | 36,573.20M | 32,864.92M | 26,889.22M | 34,723.31M | 39,004.95M |
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 17,356.58M | 17,181.21M | 17,979.69M | 20,670.11M | 19,708.18M |
| Gross Profit | 3,282.08M | 3,295.77M | 2,298.77M | 2,411.38M | 2,482.30M |
| Operating income | 2,352.67M | 2,528.23M | 1,388.41M | 1,548.05M | 1,532.66M |
| Income before tax | 1,230.69M | 1,533.91M | 1,755.26M | 1,394.62M | 1,251.11M |
| Net income | 1,123.82M | 1,024.92M | 1,071.92M | 1,110.87M | 929.15M |
| EBITDA | 4,411.32M | 4,546.06M | 3,389.60M | 3,728.70M | 4,612.19M |
| Diluted EPS | 0.09 | 0.08 | 0.07 | 0.08 | 0.06 |
| Dividends Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 |
| Total Assets | 32,898.72M | 32,239.86M | 36,186.20M | 35,489.04M | 42,236.44M |
| Total liabilities | 22,559.25M | 21,158.97M | 21,530.70M | 20,851.34M | 27,631.00M |
| Total equity | 9,201.06M | 9,899.88M | 13,213.69M | 13,568.51M | 13,416.98M |
| Operating cash flow | 4,717.55M | 4,233.82M | 3,450.51M | 4,430.38M | 4,978.17M |
Valuation Measures
| Dec 2019 | |
| PER | 13.34 |
| ROA | 2.39% |
| ROE | 6.90% |
| Operating margin | 7.77% |
| Profit margin | 4.71% |
Key executives
- Vice Chairman & Chief Executive Officer: Zhi Yong Song
- Vice President: Wei Xi Chai
- Vice President: Chong Xian Ma
- Vice President: Tie Xiang Liu
- Vice President: Zhi Yong Chen
Shareholders
- Cathay Pacific Airways Ltd. (57.7%)
- Norges Bank Investment Management (1.5%)
- The Vanguard Group, Inc. (1.5%)
- Dimensional Fund Advisors LP (0.9%)
- BlackRock Fund Advisors (0.6%)
- FIL Investment Management (Hong Kong) Ltd. (0.5%)
- HuaAn Fund Management Co., Ltd. (0.5%)
- Ninety One UK Ltd. (0.4%)
- BlackRock Advisors (UK) Ltd. (0.1%)
- Uni-President Asset Management Corp. (0.1%)
Contact Details
- Website:http://www.airchina.com.cn
- Address: No. 30 Tianzhu Road, Airport Industrial Zone, Beijing, 101312, China
- Phone: +86.10.61462777
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Competitors
- Cathay Pacific Airways Limited
- China Southern Airlines Company Limited Class H
- China Airlines Ltd.
- China Eastern Airlines Corporation Limited Class H
- Spring Airlines Co., Ltd. Class A
- PAL Holdings, Inc.
- Juneyao Airlines Co., Ltd. Class A
- Turk Hava Yollari A.O.
- Asia Aviation Public Co., Ltd.
- Nippon Yusen Kabushiki Kaisha
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Last Updated on 30 Oct, 2020
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