Air China Limited Announces 2010 First Quarter Results

Sustained Core Business Growth

HONG KONG, April 23, 2010 - Air China Limited ("Air China" or "the Company," together with its
subsidiaries, collectively "the Group") (HKEx: 00753; LSE: AIRC; SSE: 601111:
ADR OTC: AIRYY), today announced its financial results(1) for the first
quarter ended March 31, 2010 ("the Period").

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    Results Highlights

          RMB billion              Q1 2010         Q1 2009        Change (%)
                                 (Jan - Mar)     (Jan - Mar)
       Operating Revenue            14.70           11.24              30.7
       Operating Profit              2.54            0.26             894.2
          Net Profit                 2.17            0.98             121.3
      Earnings per share(RMB)        0.19            0.08             137.5 

Operating and Business Highlights

Continued Air Traffic Growth Momentum

During the Period under review, Air China recorded a 30.7% year-over-year
increase in operating revenue, to RMB14.7 billion, driven by sustained growth
in domestic traffic and a recovery in international traffic and cargo
business. Operating profit increased by 894.2% compared with the same period
in 2009 to RMB2.54 billion. The Company reported a net profit of RMB2.17
billion, an increase of 121.3% compared with a net profit of RMB0.98 billion
in the first quarter 2009.

During the Period, passenger capacity, measured in Available Seat
Kilometer ("ASK"), rose by 10.64% year-over-year to 26.59 billion. Passenger
traffic measured by Revenue Passenger Kilometers ("RPK") was 20.9 billion, up
15% from the first quarter 2009. Passenger traffic or RPK on international,
domestic and regional routes increased by 19.04%, 12.4% and 16.35%
year-over-year to 7.79 billion, 12.08 billion and 1.03 billion, respectively.
Passenger load factor was 78.6%, an increase of 2.97 percentage points
compared with the same period in 2009. The load factor for international,
domestic and regional routes was 81.97%, 77.0% and 73.77%, respectively, up
6.55, 0.55, and 5.54 percentage points year-over-year, respectively.

Driven by the continued global economic recovery, cargo business also
experienced a solid rebound. Cargo capacity, measured by Available Freight
Tonne Kilometers ("AFTK"), increased by 20.76% to 1.8 billion. Cargo traffic,
measured by Revenue Freight Tonne Kilometers ("RFTK"), increased by 51.28%
year-over-year to 1.04 billion. Cargo and mail load factor improved to
57.64%, a significant increase of 11.63 percentage points compared with the
same period last year.

Outlook

Air China Chairman Mr. Kong Dong said: "We are pleased to deliver healthy
results to start off 2010. We expect to see better growth potential in the
domestic market driven by the Shanghai World Expo and the Asian Games this
year. Meanwhile, recognizing uncertainties such as jet fuel prices and
interest rate, we remain cautiously optimistic about our prospects for the
remaining part of the year. "

"We remain focused on executing our proven growth strategy, confident
that our strategic priorities and management capabilities leave us
well-positioned to seize market opportunities and deliver positive results to
our shareholders."

    (1) All figures are unaudited, stated according to PRC GAAP. The
        operating figures include those of Air Macao.

About Air China Limited

Air China Limited (Air China) is the national flag carrier of China and a
leading provider of air passenger, air cargo and airline-related services and
products in China. Its operational head office is in Beijing, a major
domestic and international hub in China. It also provides airline-related
services, including aircraft maintenance, ground services in Beijing,
Chengdu, and other locations. As of 31 December, 2009, the Company operated a
fleet of 262 aircraft, serving 156 destinations in 32 countries and regions.
Air China was listed on the Hong Kong Stock Exchange and the London Stock
Exchange on December 15, 2004 under codes 00753 and AIRC respectively. On
August 18, 2006, Air China was listed on the Shanghai Stock Exchange under
code 601111. For further details, please visit Air China's website:
www.airchina.com.cn .

Safe Harbor 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.

    Contact:

    Air China:
     Rao Xinyu, General Manager of IR
     Air China Limited
     +86-10-6146-2777
     raoxinyu@airchina.com

     Joyce Zhang
     Air China Limited
     +86-10-6146-2560
     joycezhang@airchina.com

    Investor Relations:
     Ruby Yim
     Taylor Rafferty, Hong Kong
     +852-3196-3712
     AirChina@taylor-rafferty.com

     Mahmoud Siddig
     Taylor Rafferty, New York
     +1-212-889-4350
     AirChina@taylor-rafferty.com

Air China: Rao Xinyu, General Manager of IR, Air China Limited, +86-10-6146-2777, or raoxinyu at airchina.com; Joyce Zhang, Air China Limited, +86-10-6146-2560, or joycezhang at airchina.com; Investor Relations: Ruby Yim, Taylor Rafferty, Hong Kong, +852-3196-3712, or AirChina at taylor-rafferty.com; or Mahmoud Siddig, Taylor Rafferty, New York, +1-212-889-4350, or AirChina at taylor-rafferty.com