Air China's net profit declines

Air China Ltd, the flag carrier of China, saw a 32.41 percent year-on-year reduction in its net profit in 2013, and this year may be tougher for Chinese carriers, analysts forecast.

Air China earned 3.3 billion yuan ($535 million) net profit and operation revenue of 97.63 billion yuan - a 2.22 percent decline - in 2013, according to the carrier's annual report released on Wednesday.

It is the third consecutive year that the carrier has reported reduced profits. The decline was attributed to China's slowed economic growth, the global economic recession and a weak cargo market.