Air China posts 41% decline in 2011 profit 

(MENAFN) Air China Ltd. said that its profit last year plunged 41 percent to USD1.4 billion, as fuel prices surged, reported AP.

The carrier, one of the country's 3 major-state owned airlines, added that fuel costs in the period hiked 44 percent over 2010, reaching USD5.6 billion.

On the other hand, the company warned that in 2012, it would face more pressure resulting from weak global economic growth, mainly in the US and Europe, in addition to high operating costs and constraints on infrastructure and staff resources.

It is worth noting that Air China reported a revenue of USD15.9 billion in 2011, recording an increase of 19 percent over a year earlier.