China Southern Airlines Company Limited Class H (HK:1055) has released an update.
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China Southern Airlines Company Limited has projected a significant net loss of RMB 1.06 to 1.58 billion for the first half of 2024, with losses expected to reach RMB 3.15 to 3.98 billion after adjustments for non-recurring profits or losses. Despite efforts to improve efficiency and cost control amidst a recovering domestic civil aviation market, the company faces ongoing operational pressures from market oversupply, slow international recovery, extreme weather, and high oil prices. These are preliminary estimates and have not been audited, and final figures will be confirmed in the 2024 interim financial report.
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