Air China forecasts 2024 loss despite market recovery
Air China (SSE:601111) projects a net loss between RMB 1.60 billion and RMB 2.40 billion for 2024. This comes despite improved market conditions and cost-cutting measures. The airline attributes the continued loss to increased domestic competition, international market uncertainties, and fluctuating fuel and exchange rates. Excluding non-recurring items, the projected loss is significantly higher, ranging from RMB 19 billion to RMB 27 billion. This contrasts sharply with the 2023 net loss of RMB 10.46 billion. The company emphasizes that these figures are preliminary and unaudited. The official audited results will be released in the 2024 annual report.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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