Load factors fade but profits up at Air China

Air China reported cargo capacity up by almost 11% to 3.157 billion available freight tonne kilometers (AFTK) in the first quarter of 2016 but with cargo traffic up only 4.25%, to 1.556 billion AFTK load factor fell 3% to 49%, year-on-year.
Otherwise, the airline reported steady progress in the face of a slowing global economy. Passenger business grew rapidly, and with operating revenue up 4.4% to RMB26.4 billion, while costs increasing only 2.4% to RMB20bn, net profit to shareholders surged by almost 45%. 
While the aviation industry still faces a number of challenges in 2016, with a steady economy and low oil prices, the Air China Group expects to “maintain stable progress”.