Air China Revenue Close to Double in 1Q as China Reopened — Market Talk
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Dow Jones
2354 GMT [Dow Jones]--Air China revenue was close to double for the first quarter from a year earlier as the airline industry benefits from the travel and tourism recovery after China reopened. The company said Wednesday that revenue climbed 94% to CNY25.07 billion ($3.62 billion). That makes the net loss 2.93 billion yuan in the quarter, narrowed from CNY8.90 billion in the same period last year. The Chinese flagship carrier reported sky-high losses in 2022 as the country imposed strict Covid-19 control, imposing mobility restrictions to limit the spread of the virus. Net loss in full-year 2022 reached CNY38.62 billion.(bingyan.wang@wsj.com)
(END) Dow Jones Newswires
April 26, 2023 20:15 ET (00:15 GMT)
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