China Airlines said the main reasons for the loss are COVID-19 and the resulting rise in aviation oil prices, exchange rate fluctuations and other factors.
According to China Airlines' financial announcement for the third quarter of 2021:
- The operating income was CNY 19.794 billion, increasing by 5.24% compared with the same period last year.
- Net profit attributable to shareholders of listed companies soared by 427.17% to CNY 3.536 billion.
- The first three quarters' operating income was CNY 57.457 billion, achieving an 18.58% year-on-year growth. The net profit loss increased by 2.07% to CNY 10.321 billion.
- In the first three quarters of 2021, the group's overall transport capacity (by ATK) was 18.677 billion ATKs, a year-on-year increase of 15.24%; and the total traffic (by RTK) was 10.554 billion RTKs, a year-on-year increase of 16.56%.
- Passenger transport capacity (by ASK) was 120.076 billion ASKs, up by 11.43% year-on-year. Specifically, domestic and regional routes grew by 28.64% and 44.99% year on year, respectively, while international routes decreased by 81.51% year-on-year.
- Passenger turnover (by RPK) was 83.634 billion RPKs, a year-on-year increase of 11.12%. Specifically, domestic and regional routes rose by 27.69% and 54.02% year on year, respectively, while international routes dropped by 86.80% year-on-year. Passenger load factor was 69.65%, which was basically the same as that in the same period last year. Overall load factor was 56.51%, up by 0.64 percentage points.
- As for freight transport, cargo capacity in the period (by AFTK) was 7.857 billion AFTKs, growing by 20.76% year-on-year.
- Freight turnover (by RFTK) amounted to 3.133 billion RFTKs, a year-on-year increase of 29.81%.
- The overall load factor of cargo and mail reached 39.88%, up by 2.78 percentage points.
Founded in 1988, China Airlines is the only civil aviation company in China that flies the national flag. The company is the main air transport company controlled by China Aviation Corporation, and is jointly named with China Eastern Airlines and China Southern Airlines to be the top 3 airlines in China. China Airlines ranks 165th in the Fortune 500 in 2021.