Air China Announces 2021 Q3 Results

For Immediate Release

29 October 2021

Air China Releases Results for First Three Quarters of 2021

Result Highlights

Item	January to	January to	Year-on-year
change
(RMB100 Million)	September 2021	September 2020
%
Operating Revenue	574.57	484.54	18.58
Operating Cost	631.50	529.46	19.27
Net Profit Attributable to the	-103.22	-101.12	2.07
Parent Company
EPS (RMB)	-0.75	-0.74	1.35

(Hong Kong, 29 October 2021) Air China Limited ("Air China" or the "Company", with its subsidiaries, the "the Group") (Stock Code: HKEX: 00753; LSE: AIRC; SSE: 601111; ADR OTC: AIRYY), today announced the financial results for the first three quarters of 2021 (the "Period").1

1All data are calculated in accordance with the Accounting Standards for Business Enterprises of China and unaudited.

Operation and Business Highlights

In the first three quarters of 2021, the Group's overall transport capacity (by ATK) was 18.677 billion ATKs, a year-on-year increase of 15.24%, and the total traffic (by RTK) was 10.554 billion RTKs, a year-on-year increase of 16.56%. Passenger transport capacity (by ASK) was 120.076 billion ASKs, up by 11.43% year-on-year. Specifically, domestic and regional routes grew by 28.64% and 44.99% year on year, respectively, while international routes decreased by 81.51% year-on-year. Passenger turnover (by RPK) was 83.634 billion RPKs, a year-on-year increase of 11.12%. Specifically, domestic and regional routes rose by 27.69% and 54.02% year on year, respectively, while international routes dropped by 86.80% year-on-year. Passenger load factor was 69.65%, which was basically the same as that in the same period last year. Overall load factor was 56.51%, up by 0.64 percentage points.

As for freight transport, cargo capacity in the period (by AFTK) was 7.857 billion AFTKs, growing by 20.76% year-on-year. Freight turnover (by RFTK) amounted to 3.133 billion RFTKs, a year-on-year increase of 29.81%. The overall load factor of cargo and mail reached 39.88%, up by 2.78 percentage points.

Outlook

The Group has always given top priority to the national interests and earnestly shouldered its political, economic, and social responsibilities. Meanwhile, it focuses on safe operations, improvement in quality and efficiency, and cost control, strives to alleviate the impact of the pandemic, and promotes high-quality development.

-End-

- 2 -

About Air China Limited

Air China Limited is the national flag carrier of China and a leading provider of passenger, air cargo and airline-related services and products in China. Its operational headquarters is in Beijing, a major domestic and international hub in China. It also provides airline-related services, including aircraft maintenance, ground handling services in Beijing, Chengdu, and other locations. Air China was listed on Hong Kong Stock Exchange and London Stock Exchange on 15 December 2004 under codes 00753 and AIRC respectively. On 30 June 2006, Level I Sponsored ADR Program of Air China had been set up under the code of AIRYY. On August 18, 2006, Air China was listed on Shanghai Stock Exchange under code 601111. For further details, please visit Air China's website: www.airchina.com.cn.

Forward-Looking Statement

This press release contains projections and forward-looking statements that reflect the company's current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and which may change over time. No assurance can be given that future events will occur that projections will be achieved, or that the company's assumptions are correct. Actual results may differ materially from those projected.

Investor relations and media inquiry:

Air China Limited

Joyce Zhang/Zhang Chen

Investor Relations

Tel: [phone]

Email:[e-mail] /[e-mail]

Wonderful Sky Financial Group Company Ltd.

Erica Wu/ Lilia Yang

Tel: [phone]

Fax: [phone]

Email:[e-mail]

- 3 -