China Southern Airlines forecasts 2024 loss up to $266M

China Southern Airlines (HKEX: 1055) projects a net loss between RMB 1.25 billion and RMB 1.87 billion (approximately USD $170 million to USD $266 million) for the year 2024. This is compared to a RMB 4.209 billion loss in 2023. The airline attributes the ongoing losses to several factors including slow international market recovery, increased aircraft and material costs due to global supply chain disruptions, and the depreciation of the Renminbi. While the company took measures to improve operational efficiency and cost control in a recovering domestic market, these efforts were offset by the aforementioned external pressures. The estimated figures are unaudited and based on preliminary financial information.