REG - Air China Ld - Profit Warning

Air ChinaAnnouncement

20/01/2025 07:00

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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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