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Smaller Chinese carriers expect comparatively modest 2020 losses

02/05/2021| 3:18:44 PM|

Jinan-based Shandong Airlines expects a full-year loss excluding non-recurring items of RMB 212-260 million in 2020.

The financial losses expected by three of China’s smaller carriers in 2020 are dwarfed by losses expected at the “Big Three” and troubled Hainan Airlines.

Juneyao Air, Spring Airlines and Shandong Airlines said in Chinese stock exchange filings over the weekend that they expect to report a combined loss excluding non-recurring items of at least RMB 1.17 billion ($181 million) and as much as RMB 1.38 billion.

This pales in comparison to the combined loss excluding non-recurring items of at least RMB 88.6 billion and as much as RMB 104 billion expected by Air China, China Eastern, China Southern and Hainan Airlines.

Meanwhile, Jinan-based Shandong Airlines expects a full-year loss excluding non-recurring items of RMB 212-260 million in 2020, according to a 30 January filing to the Shenzhen stock exchange.

When non-recurring items are added, that forecast becomes a loss of RMB 222-271 million.

However, it expects an operating profit of between RMB 940 million and RMB 1.15 billion for the same period.

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TAGS: Big Three | Hainan Airlines | Juneyao Air |
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