Air China Ld Profit Warning

RNS Number : 9276T

Air China Ld

20 January 2025

 

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

 

 

中國國際航空股份有限公司

AIR CHINA LIMITED

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 00753)

 

 

Profit Warning

 

This announcement is made by Air China Limited (the "Company") pursuant to Rule 13.09 and Rule 13.10B of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).

 

I.       ESTIMATED RESULTS FOR THE PERIOD

 

(I)      Results Estimation Period

 

1 January 2024 to 31 December 2024.

 

(II)    Estimated Results

 

1.      According to the preliminary estimation by the finance department of the Company, the Company is expected to record a loss for the year of 2024. It is expected that the net loss attributable to equity holders of the Company would be approximately RMB0.16 billion to RMB0.24 billion, and the net loss attributable to equity holders of the Company after deducting non-recurring profit or loss would be approximately RMB1.9 billion to RMB2.7 billion.

 

2.       The estimated results have not been audited by certified accountants.

II.      RESULTS FOR THE CORRESPONDING PERIOD IN 2023

 

(I)      Net loss attributable to equity holders of the Company: RMB1.046 billion.

 

Net loss attributable to equity holders of the Company after deducting non-recurring profit or loss: RMB3.177 billion.

 

(II)    Earnings per share: RMB-0.07.

 

III.    MAJOR REASONS FOR THE ESTIMATED LOSS FOR THE PERIOD

 

In 2024, the recovery of the civil aviation market gained momentum. The Company seized market opportunities, made every effort to enhance efficiency, refined production organization to improve fleet efficiency, strengthened capacity and pricing controls to stabilize yield quality and implemented strict cost controls to promote cost savings. As a result, the Company's operating quality and efficiency continued to improve, achieving a significant reduction in losses year-on-year. However, amid an increasingly complex and volatile operating environment, intensified competition in the domestic market, heightened uncertainties in the international market and price fluctuations in factors such as oil and exchange rates, the Company remained in an operating loss position in 2024.

 

IV.    RISK ALERT

 

There are no uncertainties which will affect the accuracy of the estimated results of the Company.

 

V.      OTHER INFORMATION

 

The above estimated results are only a preliminary estimation, and the detailed and accurate financial figures will be disclosed in the audited annual report of 2024 which will be formally published by the Company. Investors are reminded to pay attention to the investment risks.

 

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

 

By Order of the Board

Air China Limited

Xiao Feng     Huen Ho Yin

Joint Company Secretaries

 

Beijing, the PRC, 17 January 2025

 

As at the date of this announcement, the directors of the Company are Mr. Ma Chongxian, Mr. Wang Mingyuan, Mr. Cui Xiaofeng, Mr. Patrick Healy, Mr. Xiao Peng, Mr. He Yun*, Mr. Xu Junxin* and Ms. Winnie Tam Wan-chi*.

 

*    Independent non-executive director of the Company

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END

 

 

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