China Southern Airlines Company (1055) Q1 2026 earnings summary

Executive summary

• Operating revenue for Q1 2026 reached RMB 47,782 million, up 10.08% year-over-year, reflecting strong recovery and improved operations.

• Net profit attributable to shareholders was RMB 1,481 million, reversing a net loss of RMB 747 million in Q1 2025.

• Profitability surged due to sustained improvement in production and operations compared to the same period last year.

Financial highlights

• Operating revenue increased to RMB 47,782 million from RMB 43,407 million year-over-year.

• Profit before income tax rose sharply to RMB 2,674 million from RMB 33 million year-over-year.

• Net cash flows from operating activities were RMB 4,852 million, up 9.48% year-over-year.

• Basic earnings per share improved to RMB 0.08 from RMB -0.04 year-over-year.

• Weighted average return on net assets was 4.07%, up from -2.17% year-over-year.

Outlook and guidance

• Management attributes the significant profit turnaround to ongoing operational improvements and expects continued positive momentum.