China Southern Airlines 2023 Net Loss Shrinks Thanks to Post-Pandemic Recovery
By Jiahui Huang
China Southern Airlines net loss in 2023 shrank 87% as Chinese carrier benefited from the industry's post-pandemic recovery.
The company's net loss shrank to 4.14 billion yuan ($572.8 million) from CNY32.70 billion a year earlier, it reported after the market closed Wednesday. Revenue rose 84% to CNY159.93 billion, which the company attributed to improved passenger revenue.
China's airline industry was hard hit by travel restrictions during the Covid-19 pandemic in 2022 but in 2023, China Southern Airlines' total passenger revenue more than doubled to CNY136.17 billion.
The carrier has a strong presence in southern China and said it will "make every effort" to secure time slots at Beijing Daxing International Airport and improve its transit capability. It also plans to enhance its market control in the Greater Bay Area.
The company didn't propose a final dividend for 2023, the same as in 2022.
Write to Jiahui Huang at jiahui.huang@wsj.com
(END) Dow Jones Newswires
March 27, 2024 21:20 ET (01:20 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Should Emerging-Markets Stocks Stand Alone in Your Portfolio?
-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
3 Dividend Stocks for October 2024
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued