Air China Financial Results 2026: Revenue, Net Loss, Load Factor, Yield & Fleet

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Company-reported performance, unit economics, balance-sheet and fleet metrics from FY2022 to the latest published period. Metrics are in the same order as the Airline Comparison tool.

— metrics in this profile FY2022 → Q2 2026 Updated — Next results —

At a glance

Latest reported period

Metrics

Full-year history

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RReportedDirect company disclosure CCalculatedDerived from company figures GGroup-levelBroader than the airline entity DCompany-definedNon-standard measure —Not disclosedNo estimate inserted

Analysis

What the numbers say

More detail

Additional disclosures

Guidance vs actual

Did the airline deliver?

What management guided at the start of each financial year compared with what was reported. Within the guided range = met; for cost metrics, below the range = beat.

Fleet & orders

Fleet composition

Key events

What moved the numbers

Peers

Compare with peers

FAQ

Frequently asked questions

Methodology

How to read this page

Every figure keeps the company’s own reporting period, currency, entity scope and terminology. Partial periods are not annualised, currencies are not converted and missing KPIs are not estimated. Core metrics follow the Airline Comparison tool.

  1. Fiscal years are labelled by the calendar year in which they end (a year to 31 Mar 2025 appears as FY2025). The exact period end is shown in the first row, with a link to the source document.
  2. Quarters follow the company’s reporting calendar; the company’s own label is noted beneath the period.
  3. YoY change compares with the same period one year earlier: % change for amounts, percentage points (pp) for ratios. Green means favourable (for costs, a fall is favourable). n.m. = not meaningful.
  4. Operating margin uses operating profit or EBIT ÷ revenue. EBITDA, EBITDAR and their margins are separate disclosures and are not substitutes for operating profit or margin. Company-defined measures keep their source labels (marked D).
  5. Sources: annual reports, interim results and traffic statements. See Data & Research.

Quick answers

Is Air China profitable?

No, not in its latest full year. Air China reported an operating loss of RMB389m in FY2025 (year to 31 Dec 2025), a −0.2% margin. In its latest reported period, it reported an operating loss of RMB3.065bn in H1 2026 (to 30 Jun 2026), a −3.4% margin.

What was Air China’s revenue in 2025?

Air China reported revenue of RMB171.5bn in FY2025 (year to 31 Dec 2025). For H1 2026 (to 30 Jun 2026) it reported revenue of RMB89.27bn.

Company-reported figures from our airline database. Definitions, currencies and reporting periods differ between airlines; see the tables on this page and the comparison tool for detail.

Text version of the Air China data on this page

Air China data snapshot

  • Scope: Air China Limited (group, incl. Shenzhen Airlines, Air Macau, Dalian and Inner Mongolia)
  • Region: Asia-Pacific
  • Business model: Global network group
  • Financial year end: 31 Dec
  • Reporting currency: CNY
  • Source: HKEX annual and interim results
  • Latest period: H1 2026
  • Last updated: 2026-09-27

Latest read

Air China’s H1 2026 revenue rose 10.5% to RMB89.3 billion and load factor jumped four points to 84.7%, but jet fuel costs rose 35% to RMB32.8 billion. The operating loss widened to RMB3.07 billion and the net loss attributable to shareholders to RMB2.29 billion. Gearing improved to 83.9% from 88.6% at the end of 2025.

Reported metrics by period

Annual results

  • FY2025 (FY2025 · 31 Dec 2025): Passengers: 160.6m (+3.40% YoY); Revenue: RMB171.5bn (+2.87% YoY); Passenger revenue: RMB162.6bn (Air traffic revenue); Operating profit / result: −RMB389m op. (Loss from operations); Operating margin: −0.2% (Operating result ÷ revenue) [Calculated]; Net profit: −RMB1.788bn (Net loss attributable to shareholders); Profit before tax: −RMB1.620bn (Loss before tax); Load factor: 81.88% (+2.03pt YoY); Capacity / ASK: 367.6bn ASK (+3.24% YoY); Revenue passenger km (RPK): 301.0bn (+5.86% YoY); Yield: RMB0.5144 (Yield per RPK; −3.63%); RASK / yield: RMB0.5144 yield (Per RPK); Fuel cost: RMB50.04bn (−6.85% YoY); Cash / liquidity: RMB14.30bn (Cash and cash equivalents); Net debt / cash / leverage: 88.57% gearing (Total liabilities RMB303.8bn); Fleet size: 964 (Year end; average age 10.36 years). Source: Air China 2025 annual results.
  • FY2024 (FY2024 · 31 Dec 2024): Passengers: 155.3m (Passengers carried); Revenue: RMB166.7bn (Revenue); Operating profit / result: RMB2.218bn op. (Profit from operations); Operating margin: 1.3% (Operating result ÷ revenue) [Calculated]; Net profit: −RMB233m (Net loss attributable to shareholders); Profit before tax: −RMB1.599bn (Loss before tax); Load factor: 79.85% (Passenger load factor); Capacity / ASK: 356.1bn ASK (Annual); Revenue passenger km (RPK): 284.3bn (RPK); Yield: RMB0.5338 (Yield per RPK); Fuel cost: RMB53.72bn (Jet fuel costs); Cash / liquidity: RMB21.04bn (Cash and cash equivalents); Net debt / cash / leverage: 88.16% gearing (Total liabilities ÷ total assets). Source: Air China 2025 annual results (2024 comparatives).

Quarterly and interim results

  • H1 2026 (H1 2026 · 30 Jun 2026): Passengers: 79.7m (+3.35% YoY); Revenue: RMB89.27bn (+10.54% YoY); Passenger revenue: RMB84.68bn (Air traffic revenue; +10.29%); Operating profit / result: −RMB3.065bn op. (Loss from operations); Operating margin: −3.4% (Operating result ÷ revenue) [Calculated]; Net profit: −RMB2.288bn (Net loss attributable to shareholders); Profit before tax: −RMB3.131bn (Loss before tax); Load factor: 84.74% (+4.02pt YoY); Capacity / ASK: 180.7bn ASK (+1.75% YoY); Revenue passenger km (RPK): 153.1bn (+6.82% YoY); RASK / yield: RMB0.5247 yield (Per RPK; +2.74%); Yield: RMB0.5247 (+2.74% YoY); Fuel cost: RMB32.77bn (Jet fuel; +34.69% YoY); Cash / liquidity: RMB14.14bn (Cash and cash equivalents); Net debt / cash / leverage: 83.88% gearing (Total liabilities RMB295.4bn); Fleet size: 972 (At 30 Jun 2026); Fleet growth / guidance: 15 A350-900 + 40 A320neo ordered (After the period, subject to approvals). Source: Air China 2026 interim results.
  • H1 2025 (H1 2025 · 30 Jun 2025): Passengers: 77.1m (Half year); Revenue: RMB80.76bn (Half year); Operating profit / result: −RMB1.696bn op. (Loss from operations); Operating margin: −2.1% (Operating result ÷ revenue) [Calculated]; Net profit: −RMB1.805bn (Net loss attributable); Load factor: 80.72% (Half year); Capacity / ASK: 177.6bn ASK (Half year); RASK / yield: RMB0.5107 yield (Per RPK). Source: Air China 2026 interim results (comparatives).

Sources

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