News
Air China, China Southern Airlines flag lower fiscal year losses for 2023
January 29th 2024
Air China expects a net loss ranging from 900 million yuan (US$126 million) to 1.3 billion yuan for the 12 months to last December 31, an improvement from a net loss of 38.6 billion yuan in 2022. Read More » “However, factors such as the incomplete recovery of international routes, intensified domestic competition and oil price and exchange rate fluctuations, will result in the company operating losses in the 2023 year,” Air China said in a regulatory filing. China Southern Airlines (CSA) has forecast losses ranging from 3.5 billion yuan to 4.7 billion yuan for its fiscal year compared with a 32.7 billion yuan net loss in 2022. CSA is facing operating pressure due to the same factors Air China is experiencing as well as the impact of its strategic investment in Sichuan Airlines, the southern China airline said.
