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Air China 2021 interim net loss declines to US$1 billion
August 30th 2021
Air China's net loss narrowed to 6.8 billion yuan (US$1 billion) in the six months to June 30, from a net loss of 9.4 billion yuan in the same months in 2020. Read More » Revenue rose 27%, to 37.7 billion yuan, the flag carrier said in a regulatory filing to the Stock Exchange of Hong Kong. Operating expenses increased 20.4%, to 50 billion yuan. The Star Alliance member's financial report said as the COVID-19 pandemic weakened global market demand, domestic aviation companies increased their investments in the domestic market, "which might escalate the competition in the domestic market". The Beijing-headquartered company added airlines overseas had entered into bankruptcy or restructuring. "Such integration is expected to alleviate excess capacity and facilitate the integration of civil aviation resources and subsequent development," it said.
