Air China, the country’s flag carrier, posted a more than 150 percent jump in its first-half earnings helped largely by fuel-hedging gains.
Air China earned 2.88 billion yuan ($421.6 million) during the period, up from 1.13 billion yuan a year earlier under international accounting standards, it said in a statement late on Tuesday.

The carrier did not provide earnings guidance for the rest of the year but warned about uncertainties continuing to face the industry, including weak international air and cargo traffic and increasing competition in the domestic market.

It lowered its full-year passenger-numbers forecast to 39.7 million from 40.1 million previously, while its cargo target was cut to 967,000 tonnes from 1.01 million tonnes.