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Air China posts US$959 million loss for first three months of Mainland’s fiscal year
April 30th 2021
Air China yesterday reported a net loss of 6.2 billion yuan (US$959 million) for the three months to March 31, against a net loss of 4.8 billion yuan 12 months ago. Read More » Revenue fell 15.5%, to 14.6 billion yuan, Air China said in a regulatory filing to the Stock Exchange of Hong Kong. "As the epidemic within China is under control and the scope of vaccination continues to expand, demand for civil aviation travel is expected to recover continuously," Air China said. The airline group, which includes Air China, Air Macau and Shenzhen Airlines, had 719 aircraft in its fleet at March 31, 2021. In a slide presentation accompanying the quarterly results, the airline said it expected to introduce 97 aircraft into its operations in the next three years: 59 in calendar 2021, 24 in 2022 and 14 in 2023. In the same period, 38 aircraft are due to be retired: six in 2021, 18 in 2022 and 14 in 2023.
