Securities Times reporter Li Manning
In the past year, major domestic airlines have not yet emerged from the shadow of huge losses, and the depth and persistence of the impact of the epidemic on the civil aviation industry has exceeded expectations.
On the evening of March 30, the three major state-owned airlines Air China, China Southern Airlines and China Eastern Airlines successively disclosed their annual reports.
In 2021, the three major airlines will suffer losses of tens of billions of dollars, and the amount of losses will further expand compared with the same period of the previous year.
Overall, the three major airlines lost a total of 40.957 billion yuan.
It is worth noting that China Eastern Airlines stated in its annual report that on March 21, 2022, a Boeing 737 passenger plane of China Eastern Airlines, a subsidiary of the company, crashed while performing a Kunming-Guangzhou flight.
After the plane crash, the company attached great importance to it and immediately activated the emergency response mechanism to fully carry out rescue and aftermath work.
The cause of the accident is still under investigation.
The company will closely follow up the follow-up progress of the investigation and assess its impact on the company's financial position and operating results.
In 2021, China Eastern Yunnan will achieve an operating income of 6.595 billion yuan, a year-on-year increase of 9.04%, a loss of 1.021 billion yuan, and a loss of 761 million yuan in the same period last year; passenger transportation turnover is 12382.58 million passenger kilometers, a year-on-year increase of 3.66%, carrying 9.8636 million passengers. , a year-on-year increase of 3.22%.
As of the end of 2021, China Eastern Yunnan has operated a total of 82 B787-9 and B737 series aircraft.
According to the annual reports of the three major airlines, Air China will achieve an operating income of 74.532 billion yuan in 2021, a year-on-year increase of 7.23%; a net loss of 16.64 billion yuan and a loss of 14.41 billion yuan in the same period last year.
In terms of business segments, Air China will achieve a passenger revenue of 58.317 billion yuan in 2021, a year-on-year increase of 2.590 billion yuan.
Among them, revenue decreased by RMB 1.291 billion due to the decrease in transport capacity investment, decreased revenue by RMB 1.352 billion due to the decrease in passenger load factor, and increased revenue by RMB 5.233 billion due to the increase in income level.
The main operating indicators show that the company's revenue per passenger kilometer in 2021 will increase from 0.5074 yuan in 2020 to 0.5574 yuan in 2021, a year-on-year increase of 9.85 percentage points.
China Southern's performance also fell again last year.
In 2021, the operating income will be 101.644 billion yuan, a year-on-year increase of 9.81%; the net loss will be 12.103 billion yuan, and the loss in the same period last year will be 10.842 billion yuan.
In 2021, China Eastern will achieve an operating income of 67.13 billion yuan, a year-on-year increase of 14.5%; a net loss of 12.214 billion yuan, a year-on-year increase of 380 million yuan.
In terms of profitability, Air China ranks at the bottom of the three major airlines, and once again refreshed the worst performance in the company's history.
Since Air my country has the highest proportion of international routes among Chinese airlines, its impact is more direct.
In addition, Shandong Airlines B, which is held by Air China, also released its annual report on the evening of March 30. In 2021, the company's net profit will lose 1.814 billion yuan.
Although the figure is down from the 2.382 billion yuan loss in 2020, two consecutive years of losses have pushed Shandong Airlines into insolvency.
As of the end of 2021, the net assets of Shandong Airlines B were -918 million yuan.
On the same day, Shandong Airlines B also issued a risk warning of the company's stock trading being delisted and the announcement of suspension and resumption of trading.
The stock will be suspended for one day from the opening of the market on March 31, and will resume trading on April 1, and the "delisting risk warning" will be implemented from the opening of the market on the same day. The stock abbreviation will be changed from "Shandong Airlines B" to "*ST" Shanhang B".
In general, 2021 is the second year of the global spread of the new crown pneumonia epidemic. The domestic civil aviation industry is still faced with the severe and complex situation of local aggregation and multi-point distribution of domestic epidemics and overseas spread of epidemics.
Among them, the investment in international routes continues to be limited, the domestic passenger market traffic fluctuates greatly, and it is increasingly difficult to improve the operating efficiency of leading airlines.
Combined with rising oil prices, exchange rate fluctuations and other factors, airlines are facing greater operational difficulties.
Judging from the February operating data recently released by the leading airlines, the supply and demand of the domestic civil aviation industry improved year-on-year in February. Both showed an increase over the same period last year.
China Eastern Airlines stated in its annual report that the improvement in operating data also made the industry look forward to the opportunity to reverse the difficulties of the aviation sector. However, due to the ongoing global epidemic and high fluctuations in commodity prices, the development of the aviation industry is still facing multiple uncertainties.
Repeated short-term epidemics will have a certain impact on service consumption and even the domestic economy, and the market may show a "slow recovery" trend.
In addition, according to IATA's forecast, the global aviation industry will remain in a state of loss in 2022, and the situation will remain severe. However, given the positive travel willingness of passengers, the industry is expected to continue to recover.