Air China Limited provided earnings guidance for the six months ended 30 June 2022. For the six months, the company expected net loss attributable to equity holders of the Company would be approximately RMB 18.5 billion to RMB 21.0 billion, and the net loss attributable to equity holders of the Company after deducting non-recurring profit or loss would be approximately RMB 18.6 billion to RMB 21.3 billion. Major reasons for the estimated loss for the period: In the first half of 2022, the global civil aviation industry as a whole remained in a loss-making situation due to the continued effect of the COVID-19 pandemic.

Especially, a sporadic outbreak of pandemic occurred in China this year, which led to a significant reduction in capacity input in domestic routes; while the capacity input of international routes continued to be limited. The rising oil price and exchange rate fluctuations had further intensified the difficulty of improving the Company's operations while the operating results of the core business related invested companies had also been affected. In the face of the pandemic, the Company coordinated the prevention and control of the COVID-19 pandemic and its production and operation, insisted on focusing on its core responsibility and business, and firmly boosted its improvement in quality and efficiency.

The Company strived to minimize the adverse impact of the pandemic through initiatives including optimising production organization, strengthening the conversion of passenger aircraft for cargo operations, refined marketing control, strict cost control and strengthening risk prevention and control.