Jinwu Financial News | Air China (00753) announced that in the first quarter of 2024, it recorded a net loss attributable to shareholders of 1,674 billion yuan (RMB, same below). In the same period last year, it recorded a net loss of 2,926 billion yuan, a year-on-year decrease of 42.78%. The main reason for the significant loss reduction was a sharp increase in operating income over the same period last year, while the company strengthened cost control. The basic loss per share was $0.11.
During the period, revenue of 40.066 billion yuan was recorded, an increase of 59.83% over the previous year. The main reason was that the company actively increased investment and production to improve revenue management capabilities.