China's largest carrier Air China said Friday its net profits in the first quarter of 2010 surged 121.33 percent to 2.17 billion yuan (about 317.89 million U. S. dollars), compared with that in the same period in 2009.

The basic earnings per share was 0.19 yuan, said the report filed with the Hong Kong Stock Exchange.

Air China said net profits jumped 155 percent to 5 billion yuan in 2009, compared with a net loss of 9 billion yuan in 2008 during the global economic downturn.

Revenue dropped 3.54 percent year on year to 51 billion yuan and earnings per share jumped 154.55 percent to 0.42 yuan, said its annual report filed with the Shanghai Stock Exchange. (1 U.S. dollar equals to 6.83 yuan)