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3rd Quarter Report

28 Oct 2010 16:33

RNS Number : 2029V

Air China Ld

28 October 2010

Click on, or paste the following link into your web browser, to view the full formatted version.http://www.rns-pdf.londonstockexchange.com/rns/2029V_1-2010-10-28.pdfHong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

AIR CHINA LIMITED

(a joint stock limited company incorporated in the People's Republicof China with limited liability)

(Stock Code: 00753)

THIRD QUARTERLY REPORT 2010

This announcement is made pursuant to Rule 13.09 of the Rules Governing the Listing of

Securities on the Stock Exchange of Hong Kong Limited.

The board of directors(the "Board") of Air China Limited (the "Company") hereby announces that a meeting of the Board was held on 28 October 2010 and the Board passed, inter alia, the resolution approving the quarterly report for the third quarter of 2010 prepared in accordance with the PRC Accounting Rules and Regulations.

§1 IMPORTANT NOTICE

1.1 The Board, the Supervisory Committee, as well as the directors, supervisors and senior management of the Company hereby warrant that there are no false representations, misleading statements or material omissions in this report, and jointly and severally accept full responsibility for the truthfulness,

accuracy and completeness of the contents of this quarterly report.

1.2 Directors absent from the board meetings are required to be disclosed separately

Nameof absentdirectors	Position of absentdirectors	Reason(s) forabsence	Name of proxy
WangYinxiang	Non-executiveDirector	businessengagement	CaoJianxiong
WangShixiang	Non-executiveDirector	businessengagement	KongDong
ChristopherDalePratt	Non-executiveDirector	businessengagement	KongDong
HuHungLick,Henry	IndependentNon-executiveDirector	businessengagement	ZhangKe

1.3	This Third Quarterly Financial Report of the Company is unaudited.
1.4	Legal representative of the Company	Kong Dong
	Person in charge of accounting function	Fan Cheng
	Person in charge of accounting department (accounting superintendent)	Xiao Feng

The Legal representative of the Company Mr. Kong Dong, Person in charge of accounting function Mr. Fan Cheng, and Person in charge of accounting department (accounting superintendent)Mr. Xiao Feng hereby jointly declare that the financial statements set out in this quarterly reportis true and complete.

§2 BASIC INFORMATION OF THE COMPANY

2.1 Major accountingdata and financial ratios

In RMBAt the end ofthe reportingperiod

Attheendof thepervious year

Increase/

decreaseat theendof

thereporting periodas

comparedto theendofthe perviousyear (%)

Total assets (RMB'000) 145,746,713 106,163,207 37.29

Owner's equity (or shareholders'

equity) (RMB'000) 33,156,735 23,922,872 38.60

Net asset per share attributable to shareholders of the listed

company (RMB per share) 2.86 2.02 41.58

From the beginning of the year to the end of

the reporting period

(January to September)

Increase/

decrease over the

corresponding period of the previous year (%)

Net cash flow from operating

activities (RMB'000) 15,570,887 227.57

Net cash flow from operating activities per share

(RMB per share) 1.34 235.00

Reporting period

(July to

September)

From the beginning of the year to

the end of the reporting period

(January to

September)

Increase/

decrease of this reporting period as

compared to the

corresponding period of

previous year

(%)

Net profit attributable to

shareholders of the listed

company (RMB'000) 5,166,778 9,860,799 483.62

Basic earnings per share

(RMB per share) 0.45 0.85 542.86

Basic earnings per share after

deducting non-recurring profits

and losses (RMB per share) 0.41 0.75 925.00

Diluted earnings per share

(RMB per share) N/A N/A N/A Increased

Weighted average return on net

assets (%) 18.10 34.55

Weighted average return on net assets after deducting

non-recurring profits and losses

(%) 16.60 30.22

by 14.02

percentage points

Increased by 14.60

percentage points

After deducting non-recurring profits and losses:

RMB'000

Items

Amounts

for the period from the

beginning of the year to

the end of the reporting period (January to

September)

Gains/losses from disposal of non-current assets -10,392

Government grants (except for those that are closely related to

the Company's normal operating business and qualified under

national policy to receive certain standard amount and quantities)

included in the profits and losses for the current period 273,004

Gain/(loss) from changes in fair value of financial assets/liabilities held for trading and investment gains from disposal of financial assets/liabilities held for trading and available-for-sale financial assets (except for hedging activities related to the Company's

normal operating business) 1,095,514

Reversal of provision for impairment of receivables which are

individually tested for impairment 562

Other non-operating income and expenses not covered above 14,677

Effect of merger of businesses not under common control 150,628

Effect of income tax -247,050

Effect on non-controlling interests (after tax) -40,340

Total 1,236,603

2.2 Total number of shareholdersand shareholding of top 10 holders of listed shares not subject to trading moratorium as at the end of the reporting period

Unit: Share

Total number of shareholders at the end of the reporting period 307,815

Particulars of the top 10 holders of listed shares not subject to tradingmoratorium

Name of shareholder (full name)

Number of listed

shares not subject to trading moratorium

held as at period end Class of Shares

China National Aviation Holding Company 4,949,066,567 RMB ordinary shares

Cathay Pacific Airways Limited 2,360,945,455 Overseas listed

foreign shares

HKSCC NOMINEES LIMITED 1,949,518,684 Overseas listed

foreign shares

China National Aviation Corporation (Group) Limited

Sinotrans Air Transportation Development

Co., Ltd.

Bank of China - Dacheng Blue-chipSteady

Securities Investment Funds

1,332,482,920 RMB ordinary shares

66,852,000 Overseas listed

foreign shares

78,000,000 RMB ordinary shares

29,000,000 RMB ordinary shares

Tongde Securities Investment Fund 28,162,954 RMB ordinary shares

Bank of Communications - Rongtong Industrial

Prosperity Fund

Industrial and Commercial Bank of China

- BOCI SustainalbeGrowth Equity Securities

Investment Fund

Industrial and Commercial Bank of China

- Shanghai Stock Exchange 50 ETF

18,699,806 RMB ordinary shares

16,999,694 RMB ordinary shares

16,665,666 RMB ordinary shares

Note: HKSCC NOMINEES LIMITED is a subsidiaryof the Hong Kong Stock Exchange,and its principle

business is shareholding as nominee on behalf of other corporate or individual shareholders.. It holds 1,949,518,684 H Shares of the Company (excluding 66,852,000 H Shares held on behalf of ChinaNational Aviation Corporation (Group) Limited).

§3 SIGNIFICANTEVENTS

3.1 Significant changes in the major items of the accountingstatements and the key financial indicators of the Company and the underlying reasons

□✓ Applicable □ Not applicable

Benefiting from the continuous rebound of the global air transportation market and as a result of our effective operational management, marketing and cost control, the profit from operations of the Company recorded a substantial growth, with a considerable increase in gains from our investment in other airline companies. In addition, the Group's consolidation of Shenzhen Airlines since 20 April 2010 (resulting in changes in comparable figures) has led to an increase in the amount of relevant items in the financial statements.The accounting items which recorded an increase of more than

30% are set out below:

Items	Increase
Cash and bank balances	168.65%
Bills receivable	90.00%
Accounts receivable	53.63%
Other receivables	202.87%
Prepayments	98.71%
Construction in progress	85.07%
Goodwill	315.13%
Short term loans	43.57%
Accounts payable	39.50%
Domestic air traffic liabilities	122.26%
International air traffic liabilities	36.95%
Receipts in advance	137.15%
Employee compensations payable	98.67%
Tax payable	246.57%
Other payables	153.93%
Long term loans	75.08%
Long term payables	55.21%
Accrued liabilities	34.59%
Deferred income	93.54%
Deferred tax liabilities	544.09%
Non-controlling interests	403.27%
Retained earnings	1069.68%
Revenue from operations	62.19%
Cost of operations	45.75%
Business tax and surcharges	30.45%
Selling expenses	54.42%
General and administrative expenses	40.25%
Investment income	505.72%
Non-operating expenses	138.74%
Income Tax	602.04%

Apart from the abovementioned accounting items recording an increase, the key accounting items which recorded a decrease of more than 30% and the reasons thereof areset out below:

Items

Change in %

Reason for the change

Finance costs

-129.97%

Net exchange gains for the first nine

Gains/(losses) from

movement in fair value

months of 2010 recorded an increase

of RMB1,006 million as compared

with the same period last year due to changes in exchange rate.

-47.20% Gains due to movement in fair value

recorded a decrease as compared with the same period last year as a result

of smaller increase in market value of fuel derivative contracts as compared with the same period last year.

Non-operating income -69.54% The Group benefited from the

refund from CAAC Infrastructure

Development Fund in the same period lastyear. Such policy was repealed in June 2009.

Financial liabilitiesheld for trading

-50.30% Decrease in the loss of fair value of outstanding financial derivatives

contracts as at 30 September 2010.

Bills payable -47.18% Less settlementin the form of bills adopted by the Group during the reporting period.

3.2 Analysis and explanation on the progress of significant events and their impact and resolutions

□✓ Applicable □ Not applicable

The Public Offering Review Committee of China Securities Regulatory Commission

("CSRC") has granted the application for placing of A shares by the Company on 11

October 2010 through an unconditional approval. The Company is now expecting to receive a formal approval from CSRC.

On 27 October 2010, the Company has received a formal approval from CSRC that the Company is approved to place no more than 157,000,000 H shares to China National Aviation Corporation(Group) Limited. All H shares are ordinaryshares with par value of RMB1 per share.

3.3 Performance of undertakings given by the Company, the shareholders and actual controller

□ Applicable

□✓ Not applicable

3.4 Warning in respect of forecast of possiblenet loss from the beginning of the year to the end of the next ReportingPeriod or warning in respect of any significant changes in net profit as compared with that of the corresponding period of previous year and the underlying reasons

□ Applicable

□✓ Not applicable

3.5 Implementation of the cash dividend policy during the reporting period

Nil

Air China Limited

Legal representative: Kong Dong

28 October 2010

§4 APPENDIX

4.1 Consolidated Balance Sheet

30 September 2010

Prepared by Air China Limited

Unit: RMB'000 (Unaudited)

Items

Balance at

the end of the period

Balance at

the beginning of the year

CURRENT ASSETS:

Cash and bank balances 8,601,033 3,201,568

Provisions on payables

Contributions made

Financial assets held for trading 25,968

Bills receivable 4,729 2,489

Accounts receivable 3,381,687 2,201,172

Prepayments 696,005 350,257

Premium receivable

Receivables on reinsurance

Provisions for reinsurancecontracts

Interest receivable

Dividend receivable

Other receivables 1,490,122 492,007

Purchase of financial assets resold

Inventories 1,080,817 931,271

Non-current assets due within a year

Other current assets

Total current assets 15,280,361 7,178,764

Items

Balance at the end of the period

Balance at the beginning of the year

NON-CURRENT ASSETS:

Loans and advances

Available-for-sale financial assets

Held-to-maturity investments

Long term receivables 263,995 254,306

Long term equity investments 15,171,806 13,235,575

Investment property

Fixed assets 87,243,321 69,147,527

Construction in progress 21,711,314 11,731,131

Construction materials

Disposal of fixed assets

Biological assets for production

Oil and gas assets

Intangible assets 2,763,534 2,576,301

Development expenses

Goodwill 1,449,030 349,055

Long term deferred expenses 157,888 138,105

Deferred tax assets 1,705,464 1,552,443

Other non-current assets

Total non-currentassets 130,466,352 98,984,443

Total assets 145,746,713 106,163,207

CURRENT LIABILITIES:

Short term loans 12,735,412 8,870,400

Borrowings from central bank

Deposits from clients and placementsfrom other banks

	Contributions received
	Financial liabilities held for trading	1,130,478			2,274,627
	Bills payable	403,144			763,255
	Accounts payable	9,922,809			7,113,031
Domestic air traffic liabilities International air traffic liabilities			1,890,104 2,169,273	850,394 1,583,959
Receipts in advance			90,418	38,127
Sale of financial assets repurchased
Fees and commissions payable
Employee compensations payable			692,358	348,492
Taxes payable			2,496,336	720,295
Interest payable			291,962	303,154
Dividend payable
Other payables			5,647,586	2,224,083
Amounts payable on reinsurance
Provisions on insurance contracts
Brokerage payable
Underwriting fees payable
Non-current liabilities repayable within one year			12,393,589	11,304,489
Other current liabilities
Total current liabilities			49,863,469	36,394,306

Items

Balance at the end of the period

Balance at the beginning of the year

NON-CURRENT LIABILITIES:

Long term loans 32,075,823 18,321,078

Corporate bonds 9,000,000 9,000,000

Long term payables 2,326,768 1,499,128

Obligations under finance leases 15,404,313 15,366,476

Specific payables

Accrued liabilities 127,105 94,438

Deferred income 2,677,342 1,383,338

Deferred tax liabilities 921,043 143,000

Other non-current liabilities

Total non-currentliabilities 62,532,394 45,807,458

Total liabilities 112,395,863 82,201,764

OWNERS' EQUITY (or SHAREHOLDERS' EQUITY):

Issued capital	12,251,362	12,251,362
Capital reserve	10,550,932	10,823,906
Less: Treasury shares
Specific reserves
Reserve funds	1,563,914	1,563,914
General risk provisions
Retained earnings	10,782,647	921,848
Foreign exchange translation reserve	-1,992,120	-1,638,158
Equity attributable to equity holders
of the Company	33,156,735	23,922,872
Non-controlling interests	194,115	38,571
Total owners' equity	33,350,850	23,961,443
Total liabilities and owners' equity	145,746,713	106,163,207

Legal representative of the Company: Kong Dong

Person in charge of accounting function: Fan Cheng

Person in charge of accounting department: Xiao Feng

Balance Sheet of the Parent Company

30 September 2010

Prepared by Air China Limited

Unit: RMB'000 (Unaudited)

Items

Balance at

the end of the period

Balance at

the beginning of the year

CURRENT ASSETS:

Cash and bank balances 4,944,902 1,089,515

Financial assets held for trading

Bills receivable 4,000 2,268

Accounts receivable 2,879,260 1,771,682

Prepayments 271,231 260,044

Interest receivable

Dividend receivable

Other receivables 1,020,000 678,174

Inventories 809,897 850,518

Non-current assets due within a year

Other current assets

Total current assets 9,929,290 4,652,201

NON-CURRENT ASSETS:

Available-for-sale financial assets

Held-to-maturity investments

Long term receivables	197,425	182,406
Long term equity investments	20,121,483	19,198,728
Investment property
Fixed assets	66,235,140	65,186,091
Construction in progress	15,745,317	11,081,062
Construction materials
Disposal of fixed assets
Biological assets for production
Oil and gas assets
Intangible assets	2,257,324	2,195,810
Development expenses
Goodwill
Long term deferred expenses	135,599	131,682
Deferred tax assets	1,182,773	1,503,000
Other non-current assets
Total non-current assets	105,875,061	99,478,779
Total assets	115,804,351	104,130,980

Items

Balance at the end of the period

Balance at the beginning of the year

CURRENT LIABILITIES:

Short term loans 10,528,799 8,565,294

Financial liabilities held for trading 1,032,704 2,274,627

Bills payable 0 160,000

Accounts payable 6,822,512 6,127,351

Domestic air traffic liabilities 1,289,578 841,565

International air traffic liabilities 2,053,312 1,502,957

Receipts in advance 20,796 34,300

Employee compensations payable 492,735 284,397

Taxes payable 2,148,579 644,591

Interest payable 259,583 301,950

Dividend payable

Other payables 2,393,307 1,978,628

Non-current liabilities repayable within one year 9,786,443 11,002,982

Other current liabilities

Total current liabilities 36,828,348 33,718,642

NON-CURRENT LIABILITIES:

Long term loans	18,836,911	17,125,849
Corporate bonds	9,000,000	9,000,000
Long term payables	1,133,672	1,073,629
Obligations under finance leases	15,241,814	15,366,475
Specific payables
Deferred income	2,028,114	1,377,482
Accrued liabilities	77,737	94,438
Deferred tax liabilities	143,000	143,000
Other non-current liabilities
Total non-current liabilities	46,461,248	44,180,873
Total liabilities	83,289,596	77,899,515

OWNERS' EQUITY (or SHAREHOLDERS'

EQUITY):

Issued capital	12,251,362	12,251,362
Capital reserve	14,332,437	14,332,112
Less: Treasury shares
Specific reserves
Reserve funds	1,554,324	1,554,324
General risk provisions
Retained earnings	4,376,632	-1,906,333
Total owners' equity (or shareholders' equity)	32,514,755	26,231,465
Total liabilities and owners' equity
(or shareholders' equity)	115,804,351	104,130,980

Legal representative of the Company: Kong Dong

Person in charge of accounting function: Fan Cheng

Person in charge of accounting department: Xiao Feng

4.2 Consolidated Income Statement

Prepared by Air China Limited

Unit: RMB'000 (Unaudited)

Items

Amounts for the period (July to September)

Amounts for the corresponding period of

the previous year (July to September)

Amounts for the period from the beginning of the year to the end of the reporting period (January to September)

Amounts for

the period from the beginning of the previous

year to the end of the previous reporting period (January to September)

I. Total revenue from operations 24,826,376 14,054,335 59,134,049 36,459,360

Including: Operating income 24,826,376 14,054,335 59,134,049 36,459,360

Interest income

Premium earned

Fees and commission income

II.	Total operating cost	19,416,141	13,489,300	50,825,245	35,940,774
	Including: Cost of operations	17,149,479	11,282,767	44,100,892	30,258,540

Interest expenses

Fees and commission expenses

Returned premium

Net reimbursement paid

Net amounts of provisions oninsurance contracts drawn

Bonus paid on insurance policy

Reinsurance premium

Business taxes and

surcharges	514,545	358,351	1,176,649	902,014
Selling expenses	1,710,459	1,035,453	4,132,214	2,675,877
General and administrative
expenses	622,543	442,989	1,581,768	1,127,805
Finance costs	-580,885	369,740	-292,693	976,538
Impairment losses of assets			126,415

Add: Gains from movements in fair

value (loss is represented

by "-" sign)	518,545	553,634	1,095,514	2,074,712
Investment income (loss is
represented by "-" sign)	897,711	149,142	2,787,920	460,267
Including: Share of profits and
losses of associates
and joint ventures	889,500	149,156	2,628,954	460,281

Exchange gains (loss is

represented by "-" sign)

Items

Amounts for the period (July to September)

Amounts for the corresponding period of

the previous year (July to September)

Amounts for the period from the beginning of the year to the end of the reporting period (January to September)

Amounts for the period from the beginning

of the previous year to the end of the previous

reporting period (January to September)

III. Profit from operations (loss is

represented by "-" sign) 6,826,491 1,267,811 12,192,238 3,053,565

IV.

VI.

VII.

VIII.

Legal representative of the Company: Kong Dong

Person in charge of accounting function: Fan Cheng

Person in charge of accounting department: Xiao Feng

Income Statement of the Parent Company

Prepared by Air China Limited

Unit: RMB'000 (Unaudited)

Items

Amounts for the period (July to September)

Amounts for the corresponding period of previous

year (July to

September)

Amounts for the period from the beginning of the year to the end of the reporting period (January to September)

Amounts for

the period from the beginning of the previous

year to the end of the previous reporting period (January to September)

I. Revenue from operations 18,196,086 12,882,230 46,087,475 33,877,373

Less: Cost of operations 12,229,044 10,253,905 34,282,264 27,479,107

Business taxes and surcharges 368,613 341,480 929,114 870,432

Selling expenses 1,293,219 980,165 3,375,367 2,570,606

General and administrative

expenses 372,030 352,098 1,032,642 869,517

Finance costs -550,418 371,080 -300,156 956,124

Impairment losses in assets 126,415

Add: Gains from movements in fair value (loss is represented

II.

III.

IV.

Items

Amounts for the period (July to September)

Amounts for the corresponding period of previous

year (July to

September)

Amounts for the period from the beginning of the year to the end of the reporting period (January to September)

Amounts for the period from the beginning

of the previous year to the end of the previous

reporting period (January to September)

VI. Other comprehensive income 0 0 452 -3,000

VII. Total comprehensive income 3,944,196 985,993 6,283,417 4,087,057

Legal representative of the Company: Kong Dong

Person in charge of accounting function: Fan Cheng

Person in charge of accounting department: Xiao Feng

4.3 Consolidated Cash Flow Statement

January to September 2010

Prepared by Air China Limited

Unit: RMB'000 (Unaudited)

Items

Amounts for the period from the beginningof the year to the end

of the reporting period

(January to

September)

Amounts for

the periodfrom the beginning

of the previous year to the end of the previous

reporting period (January to September)

I. Cash flows from operatingactivities:

Cash received from sales of goods, provision of

services 59,086,031 35,634,387

Net increase in deposits from clientsand placements from other banks

Net increase in borrowings from centralbank

Net increase in contributions received from other financial institutions

Cash received from premiums of original insurance contracts

Net cash receipt from reinsurance operations

Net increase in reserve of the insured and investment

Net increase in financial assets held for trading
Cash received from interests, fees and commission
Net increase in contributions
Net increase in cash from repurchase operations
Refund of tax and levy		0		41,314
Other cash received relating to operating activities		1,524,519		1,670,621
Subtotal of cash inflows of operating activities	60,610,550		37,346,322
Cash paid for goods purchased, services rendered	32,156,275		21,205,921
Net increase in loans and advances to clients
Net increase in deposits to central bank and to

other banks

Cash payment of claimsunder original insurance contracts

Cash payment of interests, fees and commission

Cash payment of bonus paid to insurance policy

Cash paid to or on behalf of employees	5,174,381	3,825,954
Tax paid	2,485,454	1,562,484
Other cash paid in relation to operating activities	5,223,553	5,998,450
Subtotal of cash outflows of operating activities	45,039,663	32,592,809
Net cash flows from operating activities	15,570,887	4,753,513

Items

Amounts for the period from the beginningof the year to the end

of the reporting period

(January to

September)

Amounts for the period from the beginning

of the previous year to the end of the previous

reporting period (January to September)

II. Cash flows from investing activities:

Cash received from investments

Cash from investment income 166,296 14,880

Net cash from disposal of fixed assets,intangible

assets and other long term assets 227,261 213,377

Net cash from disposal of subsidiaries and other business units

Other cash received from investing activities	3,091,431	2,383,381
Subtotal of cash inflows of investment activities	3,484,988	2,611,638
Cash paid to purchase of fixed assets, intangible
assets and other long term assets	12,361,886	4,574,223
Cash paid to investments	225,569	265,200

Net increase in pledged loans

Net cash from subsidiaries and other business units

Cash payments relating to other investments

Subtotal of cash outflows of investment activities 12,587,455 4,839,423

Net cash flows from investing activities -9,102,467 -2,227,785

III. Cash flows from financing activities:

Cash received from investments

Including: Cash received from investments of minority shareholders through subsidiaries

Cash received from borrowings	24,025,525	23,620,857
Cash received from issue of debentures
Other cash relating to financing activities
Subtotal of cash inflows of financing activities	24,025,525	23,620,857
Cash repaid to amounts borrowed	21,772,449	19,392,411
Cash payments for distribution of dividends,
profits or interest expenses	1,110,549	1,142,801

Including: Dividends and profit paid to minority

shareholders by subsidiaries

Other cash payments relating to financing

activities	2,328,048	3,935,761
Subtotal of cash outflows of financing activities	25,211,046	24,470,973
Net cash flows from financing activities	-1,185,521	-850,116

Items

Amounts for the period from the beginningof the year to the end

of the reporting period

(January to

September)

Amounts for the period from the beginning

of the previous year to the end of the previous

reporting period (January to September)

IV. Effectof exchange rate changes on cash and

VI.

Legal representative of the Company: Kong Dong

Person in charge of accounting function: Fan Cheng

Person in charge of accounting department: Xiao Feng

Cash Flow Statement of the Parent Company

January to September 2010

Prepared by Air China Limited

Unit: RMB'000 (Unaudited)

Items

Amounts for the period from the beginningof the year to the end

of the reporting period

(January to

September)

Amounts for

the periodfrom the beginning

of the previous year to the end of the previous

reporting period (January to September)

I. Cash flows from operatingactivities:

Cash received from sales of goods, provision of

services 45,647,580 33,506,746

Refund of tax and levy 0 41,314

Other cash received relating to operating activities 918,841 1,557,009

Subtotal of cash inflows of operatingactivities 46,566,421 35,105,069

Cash paid for goods purchased, services rendered 24,308,504 20,703,724

Cash paid to and on behalf of employees 3,715,999 2,989,528

Taxes paid 1,755,795 1,522,522

Other cash paid in relation to operating activities 3,945,359 5,279,007

Subtotal of cash outflows of operatingactivities 33,725,657 30,494,781

Net cash flows from operatingactivities 12,840,764 4,610,288

II. Cash flows from investing activities:

Cash received from investments

Cash from investment income	58,965	6,632
Net cash from disposal of fixed assets, intangible
assets and other long term assets	202,840	415,945

Net cash from disposal of subsidiaries and other

business units

Other cash received from investing activities	150,310	655,967
Subtotal of cash inflows of investment activities	412,115	1,078,544
Cash paid to purchase of fixed assets, intangible
assets and other long term assets	9,472,950	4,354,376
Cash paid for investments	183,869	273,405
Net cash from subsidiaries and other business
units	682,144	0
Cash payments relating to other investments
Subtotal of cash outflows of investment activities	10,338,963	4,627,781
Net cash flows from investing activities	-9,926,848	-3,549,237

Items

Amounts for the period from the beginningof the year to the end

of the reporting period

(January to

September)

Amounts for the period from the beginning

of the previous year to the end of the previous

reporting period (January to September)

III. Cash flows from financing activities:

Cash received from investments

Cash received from borrowings 21,118,193 23,120,884

Other cash relating to financing activities

Subtotal of cash inflows of financing activities 21,118,193 23,120,884

Cash repaid to amounts borrowed 17,071,106 19,127,756

Cash payments for distribution of dividends,

profits or interest expenses 802,070 1,006,587

Other cash payments relating to financing

activities 2,267,802 3,935,761

Subtotal of cash outflows of financing activities 20,140,978 24,070,104

Net cash flows from financing activities 977,215 -949,220

IV. Effect of exchange rate changes on cash and

VI.

Legal representative of the Company: Kong Dong

Person in charge of accounting function: Fan Cheng

Person in charge of accounting department: Xiao Feng

By order of the Board

Air China Limited

Huang Bin Tam Shuit Mui

Joint Company Secretaries

Beijing, PRC, 29 October 2010

As at the date of this announcement, the Directors of the Company are Mr. Kong Dong, Ms. Wang Yinxiang, Mr. Cao Jianxiong, Mr. Christopher Dale Pratt, Mr. Ian Sai Cheung Shiu, Mr. Cai Jianjiang, Mr. Fan Cheng, Mr. Jia Kang*, Mr. Fu Yang*, Mr. Han Fangming* and Mr. Li Shuang*.

* Independent non-executive Director of the Company

This information is provided by RNS

The company news service from the London Stock Exchange

END

QRTMPBATMBMTBLM

Date		Source	Headline
18th May 2016	7:00 am	RNS	ANNOUNCEMENT ON KEY OPERATING DATA OF APRIL 2016
11th May 2016	7:00 am	RNS	ARTICLES OF ASSOCIATION OF AIR CHINA LIMITED
29th Apr 2016	7:00 am	RNS	FIRST QUARTERLY REPORT 2016
21st Apr 2016	10:36 am	RNS	2015 Annual Report
21st Apr 2016	9:08 am	RNS	DATE OF BOARD MEETING
19th Apr 2016	7:00 am	RNS	ANNOUNCEMENT ON KEY OPERATING DATA OF MARCH 2016
15th Apr 2016	7:00 am	RNS	RESIGNATION OF EXECUTIVE DIRECTOR
15th Apr 2016	7:00 am	RNS	LIST OF DIRECTORS AND THEIR ROLE AND FUNCTION
8th Apr 2016	7:00 am	RNS	NOTICE OF ANNUAL GENERAL MEETING
8th Apr 2016	7:00 am	RNS	GENERAL MANDATE TO ISSUE SHARES & OTHER CIRCULARS
31st Mar 2016	9:00 am	RNS	2015 ANNUAL RESULTS & ISSUANCE OF CORPORATE BONDS
21st Mar 2016	7:00 am	RNS	OVERSEAS REGULATORY ANNOUNCEMENT
16th Mar 2016	7:00 am	RNS	ANNOUNCEMENT ON KEY OPERATING DATA - FEBRUARY 2016
14th Mar 2016	10:20 am	RNS	DATE OF BOARD MEETING
1st Mar 2016	7:00 am	RNS	DISCLOSEABLE TRANSACTION: PURCHASE OF AIRCRAFT
19th Feb 2016	7:00 am	RNS	ANNOUNCEMENT ON KEY OPERATING DATA OF JANUARY 2016
8th Feb 2016	7:00 am	RNS	UNITED STATES CARGO ANTITRUST LITIGATION
28th Jan 2016	7:00 am	RNS	POLL RESULTS OF THE EXTRAORDINARY GENERAL MEETING
26th Jan 2016	7:00 am	RNS	POSITIVE PROFIT ALERT FOR THE 2015 ANNUAL RESULTS
22nd Jan 2016	7:00 am	RNS	CHANGE OF BOARD COMMITTEE MEMBERS
22nd Jan 2016	7:00 am	RNS	LIST OF DIRECTORS AND THEIR ROLE AND FUNCTION
8th Jan 2016	7:00 am	RNS	PURCHASE OF AIRCRAFT
5th Jan 2016	7:00 am	RNS	PROPOSED NON-PUBLIC ISSUE & SUBSCRIPTION A SHARES
23rd Dec 2015	7:00 am	RNS	LIST OF DIRECTORS AND THEIR ROLE AND FUNCTION
23rd Dec 2015	7:00 am	RNS	POLL RESULTS OF EXTRAORDINARY GENERAL MEETING
14th Dec 2015	7:26 am	RNS	PROPOSED NON-PUBLIC ISSUE OF A SHARES (REVISED)
14th Dec 2015	7:00 am	RNS	NOTICE OF EXTRAORDINARY GENERAL MEETING
14th Dec 2015	7:00 am	RNS	EXTRAORDINARY GENERAL MEETING NOTICE OF ATTENDANCE
14th Dec 2015	7:00 am	RNS	NOTICE OF H SHAREHOLDERS' CLASS MEETING
14th Dec 2015	7:00 am	RNS	FORM OF PROXY FOR EXTRAORDINARY GENERAL MEETING
14th Dec 2015	7:00 am	RNS	FORM OF PROXY FOR H SHAREHOLDERS' CLASS MEETING
14th Dec 2015	7:00 am	RNS	H SHAREHOLDERS CLASS MEETING NOTICE OF ATTENDANCE
8th Dec 2015	7:00 am	RNS	Notice of EGM
8th Dec 2015	7:00 am	RNS	PROPOSED APPOINTMENT
8th Dec 2015	7:00 am	RNS	REVISED FORM OF PROXY FOR EGM
16th Nov 2015	7:00 am	RNS	DELAY IN DESPATCH OF CIRCULAR
9th Nov 2015	7:00 am	RNS	NOTICE OF EXTRAORDINARY GENERAL MEETING
9th Nov 2015	7:00 am	RNS	Circulars
30th Oct 2015	7:00 am	RNS	THIRD QUARTERLY REPORT 2015
30th Oct 2015	7:00 am	RNS	CONTINUING CONNECTED TRANSACTIONS
23rd Oct 2015	7:00 am	RNS	CLARIFICATION ANNOUNCEMENT
19th Oct 2015	7:00 am	RNS	DATE OF BOARD MEETING
16th Oct 2015	7:00 am	RNS	POSITIVE PROFIT ALERT
16th Oct 2015	7:00 am	RNS	DELAY IN CIRC. IN REL. TO NON-PUBLIC A SHARE ISSUE
18th Sep 2015	7:00 am	RNS	Half Yearly Report
1st Sep 2015	7:04 am	RNS	DELAY IN DESPATCH OF THE NON-PUBLIC A SHARE ISSUE
28th Aug 2015	7:00 am	RNS	INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUN 15
18th Aug 2015	9:00 am	RNS	DATE OF BOARD MEETING
18th Aug 2015	9:00 am	RNS	DELAY IN CIRC. IN REL. TO NON-PUBLIC A SHARE ISSUE
4th Aug 2015	7:00 am	RNS	INCREASE IN HOLDINGS BY CONTROLLING SHAREHOLDER

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