CHINESE flag carrier Air China has posted a 17 per cent net profit increase to CNY3.82 billion (US$622.6 million) in 2014, drawn on revenues of CNY105.88 billion, an increase of 7.8 per cent.

Higher profits were largely attributed to "sustained growth of international air passenger market, steady recovery of the air cargo market and lower fuel prices."

Cargo traffic volume rose 6.6 per cent year on year to 1.55 million tonnes, while passenger numbers rose 6.9 per cent to 83 million with an average load factor of 79.9 per cent, down 0.93 points over 2013.

Air China took delivery of 67 new aircraft and phased out 24 old planes last year. The carrier operated a total fleet of 540 aircraft with an average fleet age of 6.08 years, reported Maryland's Air Transport World.

"The improving development trend of the global civil aviation industry, the continued economic growth under "new normal" conditions and the increase in consumption standards and change of consumption structure of Chinese citizens have opened new scope for development," said Air China chairman Cai Jianjiang.