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    753   CNE1000001S0

AIR CHINA LIMITED

(753)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 10/19
5.61 HKD   -1.92%
09:40aHKIA : Notice of board meeting (2021-10-18)
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10/18AIR CHINA : Passenger Capacity, Traffic Fall In September
MT
10/18China Suspends Five Airlines’ Flights on COVID-19 Resurgence
MT
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Air China : Interim Report 2021

09/16/2021 | 11:12pm EDT

Air China Limited

Stock code: 00753 Hong Kong 601111 Shanghai AIRC London

2021

I N T E R I M R E P O R T

中國國際航空股份有限公司 (short name: 中國國航) (English name: Air China Limited,

short name: Air China) is the only national flag carrier of China.

As the old saying goes, "Phoenix, a bird symbolizing benevolence" and "The whole world will be at peace once a phoenix reveals itself". The corporate logo of Air China is composed of an artistic phoenix figure, the Chinese characters of "中國國際航空公司" in calligraphy written by Deng Xiaoping, by whom the China's reform and opening-up blueprint was designed, and the characters of "AIR CHINA" in English. Signifying good auspices in the ancient Chinese legends, phoenix is the king of all birds. It "flies from the eastern Happy Land and travels over mountains and seas and bestows luck and happiness upon all parts of the world". Air China advocates the core spirit of phoenix which is to "serve the world, to lead and move forward to higher goals". By virtue of the immense historical heritage, Air China strives to create perfect travel experience and keep passengers safe by upholding the spirit of phoenix of being a practitioner, promoter and leader for the development of the Chinese civil aviation industry. The Company is also committed to leading the industrial development by establishing itself as a "National Brand", at the same time pursuing outstanding performance through innovative and excelling efforts.

Air China was listed on The Stock Exchange of Hong Kong Limited (stock code: 00753) and

the London Stock Exchange (stock code: AIRC) on 15 December 2004, and was listed on the

Shanghai Stock Exchange (stock code: 601111) on 18 August 2006.

Headquartered in Beijing, Air China has set up branches in Southwest China, Zhejiang, Chongqing, Tianjin, Shanghai, Hubei, Guizhou, Tibet, Wenzhou, Xinjiang and Guangzhou. As at the end of the Reporting Period, the major subsidiaries of Air China are Shenzhen Airlines Company Limited (including Kunming Airlines Company Limited), Air Macau Company Limited, Beijing Airlines Company Limited, Dalian Airlines Company Limited, Air China Inner Mongolia Co., Ltd., Aircraft Maintenance and Engineering Corporation, Air China Import and Export Co., Ltd., Chengdu Falcon Aircraft Engineering Service Co., Ltd., Air China Shantou Industrial Development Company; and its joint ventures mainly include GA Innovation China Co., Ltd. and Sichuan Services Aero-Engine Maintenance Co., Ltd. Moreover, the associates of Air China are Cathay Pacific Airways Limited, Shandong Airlines Co., Ltd. and Tibet Airlines Co., Ltd.. Air China is also the largest shareholder of Shandong Aviation Group Co., Ltd.

With the goal of becoming "the world's leading airline", Air China is actively implementing the strategic objectives of "globally leading competitive advantages, constantly enhanced development capability, excellent and unique customer experience, and steadily improved interests and benefits". Air China is dedicated to serving passengers with credibility, convenience, comfort and choice. "Air China Miles" is the oldest frequent flier programme in China, under which all members of the frequent flier programmes under various brands of its subsidiaries and associates have been consolidated into the brand of "Phoenix Miles". As at the end of the Reporting Period, the total number of "Phoenix Miles" members amounted to 70.306 million.

As of the end of the Reporting Period, the Group operated a fleet of 729 aircraft with an average age of 7.97 years, of which the Company operated a fleet of 453 aircraft with an average age of 8.18 years.

No. 30, Tianzhu Road, Airport Industrial Zone,

Shunyi District, Beijing, 101312, P.R. China

Tel:  86-10-61462560

Fax:  86-10-61462805

www.airchina.com.cn

TABLE OF CONTENTS

Corporate Information

2

Summary of Financial Information

3

Summary of Operating Data

4

Development of Fleet

6

Business Overview

7

Management Discussion and Analysis

13

Changes in the Information of Directors, Supervisors and Senior Management

of the Company

20

Shareholdings of Directors, Supervisors and Chief Executive and Substantial

Shareholders of the Company

21

Corporate Governance

24

Miscellaneous

25

Report on Review of Condensed Consolidated Financial Statements

29

Condensed Consolidated Financial Statements

- Condensed Consolidated Statement of Profit or Loss

30

- Condensed Consolidated Statement of Profit or Loss and

Other Comprehensive Income

31

- Condensed Consolidated Statement of Financial Position

32

- Condensed Consolidated Statement of Changes in Equity

34

- Condensed Consolidated Statement of Cash Flows

35

- Notes to the Condensed Consolidated Financial Statements

36

Glossary of Technical Terms

66

Definitions

67

CORPORATE INFORMATION

REGISTERED CHINESE NAME:

中國國際航空股份有限公司

ENGLISH NAME:

Air China Limited

REGISTERED OFFICE:

Blue Sky Mansion

28 Tianzhu Road

Airport Industrial Zone

Shunyi District

Beijing

China

PRINCIPAL PLACE OF BUSINESS IN HONG KONG:

5th Floor CNAC House

12 Tung Fai Road

Hong Kong International Airport Hong Kong

WEBSITE:

www.airchina.com.cn

DIRECTORS1:

Mr. Song Zhiyong

Mr. Ma Chongxian

Mr. Feng Gang

Mr. Patrick Healy

Mr. Xue Yasong

Mr. Duan Hongyi

Mr. Stanley Hui Hon-chung

Mr. Li Dajin

SUPERVISORS:

Mr. Zhao Xiaohang

Mr. He Chaofan

Mr. Wang Jie

Mr. Qin Hao

Ms. Lyu Yanfang

LEGAL REPRESENTATIVE OF THE COMPANY:

Mr. Song Zhiyong

COMPANY SECRETARY:

Mr. Zhou Feng

AUTHORISED REPRESENTATIVES:

Mr. Song Zhiyong

Mr. Zhou Feng

LEGAL ADVISERS TO THE COMPANY:

DeHeng Law Offices (as to PRC Law)

DLA Piper Hong Kong (as to Hong Kong and English Law)

INTERNATIONAL AUDITOR:

Deloitte Touche Tohmatsu

Registered Public Interest Entity Auditors

H SHARE REGISTRAR AND TRANSFER OFFICE:

Computershare Hong Kong Investor Services Limited

Rooms 1712-1716, 17th Floor, Hopewell Centre

183 Queen's Road East

Wanchai

Hong Kong

LISTING VENUES:

Hong Kong, London and Shanghai

1. Effective from 9 February 2021, Mr. Wang Xiaokang resigned from his position as an independent non-executive Director of the Company due to his age. At the 2021 first extraordinary general meeting of the Company, Mr. Ma Chongxian was appointed as an executive Director of the Company.

002 Air China Limited 2021 Interim Report

SUMMARY OF FINANCIAL INFORMATION

Six months

Six months

ended 30 June

ended 30 June

(RMB'000)

2021

2020

Change

Revenue

37,663,803

29,645,766

27.05%

Loss from operations

(6,042,612)

(6,682,049)

(9.57%)

Loss before taxation

(9,404,949)

(13,096,926)

(28.19%)

Loss after taxation

(7,670,665)

(10,860,406)

(29.37%)

Loss attributable to non-controlling interests

(889,236)

(1,420,607)

(37.40%)

Loss attributable to equity shareholders

of the Company

(6,781,429)

(9,439,799)

(28.16%)

EBITDA(1)

4,289,009

3,282,775

30.65%

EBITDAR(2)

4,844,258

3,650,317

32.71%

Loss per share attributable to equity shareholders of

the Company (RMB)

(0.4937)

(0.6873)

(28.17%)

Return on equity attributable to

equity shareholders (%)

(9.10)

(10.69)

1.59 ppt

(1) EBITDA represents earnings before finance income and finance costs, net exchange gain/loss, income tax expense, share of results of associates and joint ventures, depreciation and amortisation as computed under IFRSs.

(2) EBITDAR represents EBITDA before deducting lease expenses on aircraft and engines as well as other lease expenses.

At 30 June

At 31 December

(RMB'000)

2021

2020

Change

Total assets

287,991,744

284,029,616

1.39%

Total liabilities

210,765,081

200,256,580

5.25%

Non-controlling interests

5,792,148

6,231,709

(7.05%)

Equity attributable to equity shareholders

of the Company

71,434,515

77,541,327

(7.88%)

Equity attributable to equity shareholders

of the Company per share (RMB)

4.92

5.34

(7.87%)

2021 Interim Report Air China Limited

003

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Air China Limited published this content on 17 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2021 03:11:07 UTC.


© Publicnow 2021
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