China-Singapore Jingwei Client, April 30 (Dong Wenbo) On the evening of the 29th, the three major state-owned airlines (Air China, China Southern Airlines, Eastern Airlines) disclosed all their first quarter 2021 financial reports.
According to Sino-Singapore Jingwei Client, in the first quarter, the three state-owned airlines had a total loss of 14.019 billion yuan, with an average daily loss of about 156 million yuan.
Air China's losses expanded year-on-year
Statistics show that in the first quarter, China Southern Airlines achieved operating income of 21.253 billion yuan, ranking first among the three state-owned airlines and the only airline that achieved positive year-on-year growth in operating income.
Air China achieved operating income of 14.581 billion yuan, down 15.50% year-on-year; Eastern Airlines achieved operating income of 13.395 billion yuan, down 13.32% year-on-year.
In terms of net profit attributable to shareholders of listed companies, the three airlines all showed a loss in the first quarter, with a total loss of 14.019 billion yuan.
According to this calculation, the average daily loss is about 156 million yuan!
Compared with the same period last year, Air China’s losses expanded from 4.805 billion yuan to 6.208 billion yuan, an increase of 1.403 billion yuan; Eastern Airlines and China Southern Airlines lost 3.805 billion yuan and 4.006 billion yuan, respectively, which narrowed year-on-year.
Regarding the reasons for the loss, Eastern Airlines stated that the sporadic cases in individual areas in the country in the first quarter caused a certain adverse impact on the recovery of aviation travel demand. The global epidemic situation is still severe, and the country is still facing greater pressure from foreign epidemic prevention imports. Passengers on international routes The traffic volume remains low.
China Southern Airlines stated that in the first quarter, due to the continuous impact of the new crown pneumonia epidemic, the aviation industry’s recovery is facing challenges. With the acceleration of domestic vaccination progress, domestic aviation demand continued to improve, but the overseas epidemic continued to spread, and international airline capacity investment and market demand remained at Low.
Air China also reminded that if the impact of the new crown epidemic continues into the next reporting period, it is expected that its performance from the beginning of the year to the end of the next reporting period will be affected.
China Southern Airlines also stated that in view of the continuing impact of the epidemic on the air transport industry and the uncertainty of the epidemic trend, it is expected that the operating results in the first half of the year will still be adversely affected and there will be greater uncertainty.
Industry recovery is under pressure
Having entered the second quarter, how is the development momentum of China's civil aviation industry?
According to Bao Yi, deputy director of the Development and Planning Department of the Civil Aviation Administration, introduced at a press conference on April 16, airlines still incurred losses in the first quarter of this year, but the extent of their losses has narrowed compared with the same period last year.
In general, the industry's recovery momentum continues to improve, but it is also facing some pressure.
According to data released by the Civil Aviation Administration, in the first quarter, airlines’ cumulative operating income was 87.88 billion yuan, a year-on-year decrease of 1.1%, and a cumulative loss of 30.05 billion yuan, a year-on-year reduction of 4.58 billion yuan.
Looking at monthly data, there was a loss of 10.48 billion yuan in January, a loss of 11.61 billion yuan in February, and a loss of 7.96 billion yuan in March.
Bao Yi pointed out that the pressure is mainly manifested in: the spread of new crown cases in individual regions in China has caused some fluctuations in regional aviation travel demand; the global epidemic situation is still severe, the pressure of foreign defense imports remains unabated, and passenger traffic on international routes remains low; at present, The overall loss of the industry is still large, and civil aviation companies still face greater operating pressure.
According to a report issued by the International Air Transport Association (hereinafter referred to as "International Air Transport Association") on April 21, due to the continued impact of the new crown epidemic, the global aviation industry is expected to have a net loss of 47.7 billion US dollars in 2021, and the net loss of the aviation industry in 2020 It is estimated to be 126.4 billion U.S. dollars.
IATA chairman Willie Walsh said, “This crisis is longer and deeper than anyone expected. Losses will be less than in 2020, but the pain caused by the crisis is increasing.”
The International Air Transport Association predicts that the aviation industry will begin to recover in the second half of 2021.
This year’s total travel (calculated by revenue passenger kilometers) will return to 43% of 2019, which is an improvement from 2020, but it is far from returning to normal; the total number of passengers is expected to reach 2.4 billion, higher than the previous figure in 2020. 1.8 billion, but far below the 4.5 billion in 2019.
(Zhongxin Jingwei APP)
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