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Air China (753) investor relations material
Air China Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue rose 2.87% year-over-year to RMB171,485 million, but net loss attributable to equity shareholders widened to RMB1,788 million from RMB233 million in 2024.
No dividend proposed for 2025 due to negative distributable profits.
Operating performance improved with higher capacity and passenger load factor, but lower yields and increased costs led to a larger net loss.
Financial highlights
Revenue: RMB171,485 million (+2.87% YoY); air passenger revenue: RMB154,856 million (+2.02% YoY); cargo and mail revenue: RMB7,778 million (+4.92% YoY).
Net loss attributable to equity shareholders: RMB1,788 million (2024: RMB233 million loss).
Basic and diluted loss per share: RMB(0.11) (2024: RMB(0.01)).
Operating expenses: RMB177,143 million (+3.11% YoY), with jet fuel costs down 6.85% but maintenance and employee costs up.
Finance costs decreased 13.22% to RMB5,553 million; net exchange gains of RMB328 million (vs. RMB760 million loss in 2024).
Cash and cash equivalents at year-end: RMB14,295 million, down 32.05% from 2024.
Outlook and guidance
Strategic focus on safety, hub network optimization, balanced passenger-cargo development, cost leadership, and digital innovation.
Plans to enhance product/service quality, digital transformation, and green development.
Key 2026 priorities: safety, value creation, reform, service system optimization, and Party leadership.
- Revenue up 33.4%, net loss narrowed, and international travel rebounded strongly.753
Q2 20248 Dec 2025 - Year-to-date profit surged on higher revenue and cost control, despite a Q3 net profit dip.753
Q3 202530 Oct 2025 - Revenue up 1.56%, net loss narrows, international growth strong, risks remain.753
Q2 202517 Sep 2025 - Air China achieved robust revenue and profit growth YTD, with major fleet expansion underway.753
Q3 202413 Jun 2025 - Net loss widened to RMB 2.04 billion in Q1 2025 amid flat revenue and rising costs.753
Q1 202512 Jun 2025 - Net loss narrowed sharply on 18% revenue growth and robust international recovery.753
Q4 20246 Jun 2025
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