China Southern Airlines projects RMB3.47–3.97 billion net loss for H1 2026

Bulletin Express07-14

China Southern Airlines Company Limited released a preliminary performance forecast indicating a net loss attributable to shareholders of approximately RMB3.47 billion to RMB3.97 billion for the six months ended 30 June 2026. After excluding non-recurring items, the loss is expected to widen to RMB4.48 billion–RMB4.98 billion.

For the same period in 2025, the carrier reported a net loss of RMB1.53 billion on a profit before tax of RMB0.60 billion, with an adjusted loss of RMB2.03 billion. Basic loss per share was RMB0.08.

Management attributed the anticipated downturn to a sharp, geopolitically driven rise in aviation kerosene prices that significantly inflated fuel expenses despite solid domestic traffic growth and revenue expansion during the Spring Festival travel period. The company highlighted efforts to optimise its route network, strengthen sales, and tighten cost controls, yet expects these measures will not fully offset the fuel-cost pressure for the first half.

The figures are unaudited and compiled under PRC Accounting Standards for Business Enterprises. Final results will be disclosed in the 2026 interim report.

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