News
China Southern Airlines warns of widened losses
July 18th 2022
China Southern Airlines (CSA) has announced it will post a deepening first half loss of 10.2 billion yuan to 12.1 billion yuan (US$1.5 billion - US$1.8 billion) to June 30, its first six months of fiscal 2022. Read More » The forecast result compares with a net loss of 4.7 billion yuan in the same months in 2021. “During the reporting period, the domestic civil aviation industry was affected by multiple shocks such as the repeated impact from the pandemic, high oil prices and the depreciation of the Renminbi,” CSA stated in its Stock Exchange of Hong Kong filing. Passenger capacity in the reported months declined 34.3% from a year earlier and revenue passenger kilometres were 42.6% lower for the period. The declines were even steeper when compared with pre-COVID-19 levels. In the first half of 2019, CSA’s passenger capacity was 54.8% and its RPKs were 64.8%.
