Air China Reports Profitable Nine Months
Air China, the national flag carrier of China, has announced a positive financial performance for the first nine months of the year. The company's profit for the period from January to September reached 791.42 million yuan ($108.2 million), a stark contrast to the loss of CNY28.10 billion reported in the same period last year.
This turnaround can be attributed to the easing of Covid-19 restrictions by the Chinese government, which has led to a significant increase in both business and leisure travel. Air China's revenue also saw a significant boost, reaching CNY105.58 billion compared to CNY42.09 billion in the previous year.
During the pandemic, China implemented some of the strictest mobility regulations globally, severely impacting various industries such as transportation and hospitality. However, the lifting of these restrictions has resulted in improved operations and financial performance for Air China.
The company attributed its positive results to factors such as increased transportation capacity, higher passenger load factor, and improved pricing. These elements collectively contributed to a significant decrease in losses and an overall growth in profitability.
Air China's impressive turnaround highlights the industry's resilience and ability to adapt to challenging circumstances. As travel gradually resumes worldwide, it is encouraging to witness the recovery and growth of key players in the aviation sector.
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