Juneyao Airlines (603885) Q3 2025 earnings summary

Executive summary

• Net profit attributable to shareholders for the first nine months declined 14.28% year-over-year, mainly due to reduced domestic capacity and increased engine maintenance costs.

• The company executed a share buyback program, repurchasing 35.3 million shares (1.62% of total equity) by September 30, 2025.

Financial highlights

• Operating revenue for Q3 2025 was RMB 6.41 billion, down 1.88% year-over-year; year-to-date revenue was RMB 17.48 billion, nearly flat (-0.06%) from the prior year.

• Net profit attributable to shareholders in Q3 was RMB 583.9 million, down 25.29% year-over-year; year-to-date net profit was RMB 1.09 billion, down 14.28%.

• Basic and diluted EPS for Q3 was RMB 0.27, down 25% year-over-year; year-to-date EPS was RMB 0.50, down 13.79%.

• Operating cash flow for the first nine months was RMB 5.43 billion, up 6.98% year-over-year.

Outlook and guidance

• Management attributes profit decline to engine maintenance-driven capacity reduction and higher maintenance expenses.