Air China First-Quarter Loss Narrowed Amid Jump in Air Travel
By Bingyan Wang
Air China's net loss narrowed in the first quarter, as sales nearly doubled thanks to the relaxation of China's stringent Covid-era restrictions.
The carrier's net loss in the three months to March 31 narrowed to 2.93 billion yuan (US$423.0 million) from CNY8.90 billion in the same period last year, the Beijing-based flag carrier said late Wednesday.
Revenue rose 94% to CNY25.07 billion, driven by an increase in both passenger load factor and price, it said.
The Civil Aviation Administration of China last week said demand for passenger travel has recovered rapidly, with domestic passenger levels having recovered to about 90% of pre-pandemic levels.
Write to Bingyan Wang at bingyan.wang@wsj.com
(END) Dow Jones Newswires
April 26, 2023 21:39 ET (01:39 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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