Summary by Moomoo AI
China Airlines issues a profit warning and expects a loss in 2023. According to preliminary calculations, net loss attributable to shareholders of listed companies is expected to be approximately RMB9 billion to $13 billion, net loss after non-recurring loss of approximately RMB27 billion to RMB37 billion. The announcement has not been audited by a registered accountant. Compared to the same period last year, net loss attributable to shareholders of listed companies was RMB386.19 billion in 2022, net loss after non-recurring loss of RMB391.84 billion. Despite the warming demand for air passengers in 2023, the company is actively driving revenue growth and tightly controlling costs, but the company remains at a loss due to the lack of full recovery of international routes, increased competition in the domestic market, and volatility in the oil price. China Airlines said there were no uncertainties affecting the accuracy of the results announcement and reminded investors to be mindful of investment risks. Specific financial data will be based on the audited 2023 report after the company's official disclosure.