Chinese airline Air China reported on Thursday that it had narrowed its net loss in its fiscal 2024 compared to the previous year.
The company also reported that earnings before interest, taxes, depreciation, amortization, and restructuring or rental costs (EBITDAR), a key earnings metric, increased with growth in revenues.
In the year, traffic, capacity, and the number of passengers carried were higher than last year.
In the year, the loss attributable to equity shareholders was 232.56 million yuan ($31.89 million), compared to a loss of 1.04 billion yuan last year.
Loss per share was 0.01 yuan, compared to a loss of 0.07 per share a year ago.
Loss before taxation was 1.6 billion yuan, narrower than a loss of 1.65 billion in the prior year. However, the company reported a profit from operations of 2.22 billion yuan, down from 2.89 billion a year ago.
EBITDAR grew to 32.28 billion yuan from 30.84 billion last year.
Revenue climbed to 166.7 billion yuan from the prior year's 141.1 billion.
In the year, capacity in available seat kilometres (ASK) climbed 21.74% and traffic in revenue passenger kilometres (RPK) grew 32.77%.
The company carried 155,315.51 thousand passengers in the year, up 23.8% from last year.
Passenger load factor grew 6.63 percentage points from last year to 79.85%.
In Hong Kong, Air China shares were losing around 2.06% to trade at HK$4.75 ($0.61).
