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Air China narrows net losses to US$144million in calendar 2023
April 2nd 2024
Air China booked a net loss of 1 billion yuan (US$144 million) for the 12 months to December 31 against a 38.6 billion yuan net loss in full-year 2022. Read More » Revenue increased 166.7%, to 141.1 billion yuan, an Air China regulatory filing stated. The Star Alliance member airline has “made every effort to expand effective investment” in the domestic market in 2023 amid improved market conditions and also capitalised on opportunities to increase flight schedules at the major domestic airports, it said. In the current calendar year, the Beijing-based airline group forecast demand for air travel in China will continue its positive growth momentum, but competitive pressures in the domestic aviation market are likely to alleviate it. “On the demand side, with the continued rebound and improvement in the national economy, the foundation for industrial recovery and development will become more solid,” Air China said. “This will lead to steady growth in the domestic passenger transportation market. International passenger transportation will sooner recover, effectively alleviating the situation of oversupply in the domestic aviation market,” the airline said.
