Air China Limited, the world's largest carrier by market value, earned a net profit in the first quarter of 1.04 billion Yuan (148.6 million US dollars), or 0.09 Yuan per share, which is 147 percent higher than the same period of last year.

The company said that the gains come from the growth of passenger numbers and a stronger Yuan.

At the same time, Air China's net cash flow generated from first quarter operations rose 33 percent, which is mainly attributed to the sales growth and the acquisition of China Cargo Airline's stake.

Air China also said in that it received a grant from the Chinese government of 34.6 million Yuan in the first quarter, which has excluded the fixed grants by national uniform standards.

China