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China’s flag carrier posts interim US$2.8 billion loss
September 1st 2022
Air China has reported a 19.4 billion yuan (US$2.8 billion) net loss for the six months to June 30, against a 6.8 billion yuan net loss a year earlier. Read More » Revenue declined 36.4%, to 24 billion yuan, Air China has reported to the Stock Exchange of Hong Kong. Operating expenses were 7.9% lower, at 42.4 billion yuan. The results closely followed market conditions and were influenced by the ongoing COVID-19 pandemic in China and the need to adjust capacity in response to demand, the airline said. “In the first half of 2022, air traffic production continued to be affected by the COVID-19 pandemic,” Air China said. “In the second half of the year, opportunities and challenges coexist in the industry. There is still a risk of market demand fluctuations caused by the rebound of the local epidemic.”
