News
China Southern Airlines reports US$1.7 billion interim loss
August 31st 2022
China Southern Airlines (CSA) has reported a net loss of 11.5 billion yuan (US$1.7 billion) for the six months to June 30 compared with a 4.7 billion yuan net loss in the same months in 2021. Read More » Operating revenue declined 20.9%, to 40.8 billion yuan, CSA said in its Stock Exchange of Hong Kong filing. Operating expenses declined 5.5%, to 53.3 billion yuan. “Passenger revenue decreased in line with the decrease of traffic volume after the COVID-19 pandemic recurred during the reporting period,” CSA said. “A rising oil price, the devaluation of China's currency and several other factors shocked China’s civil aviation industry in the first half of calendar 2022.Due to high oil prices, airlines are under greater operating pressure,” CSA said.
