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Air China estimates US$448 million to US$546 million in losses for latest six months
July 17th 2023
Air China has projected net losses of RMB3.2 billion-RMB 3.9 billion (US$448 million to US$546 million) for the six months to June 30 against a net loss of RMB19.4 billion in the same period in 2022. Read More » In a regulatory filing, the Mainland flag carrier said it experienced a “lower than expected” recovery of international routes in the first half of 2023. Combined with unfavourable foreign exchange movements the operating conditions helped push the company into loss for the six months. “In the first half of the year, the company seized the opportunities from the improving demand in the aviation and transportation market. The company stuck to the bottom line of safe operations, strengthened risk prevention and control improving its operating performance significantly compared with the same months last year,” the Beijing-based “Big Three” airline said.
