The three major airlines in the first half of the year averaged more than 10 billion yuan, and ST HNA fascinated the debt again

15.07.2022

Number of this text: 1560, the reading time is about 2.5 minutes

Guide: In addition to HNA, many airlines have been funded at the end of last year.

Author | First Finance Chen Shanshan

In the past two days, a number of listed airlines have announced the performance preview of the first half of 2022, and all listed airlines have reported losses.

Among them, Air China, China Eastern Airlines, and China Southern Airlines have lost more than 10 billion yuan: Air China is expected to lose 18.5 billion to 21 billion, China China Eastern Airlines is expected to lose 17 billion to 19.5 billion yuan, and Southern Airlines is expected to lose 10.2 billion to 12.1 billion yuan.

It is worth noting that Southern Airlines lost a total of 12.1 billion yuan last year. The losses in the first half of this year have exceeded its entire year last year, and the losses of Air China in the first half of the year exceeded the total loss of all listed airlines last year last year. Essence

Which one lost less

In the preview of the performance, many aircraft companies attributed the causes of losses to the impact of multiple impacts such as the domestic civil aviation industry, high oil prices, and the depreciation of the renminbi.

For example, Southern Airlines stated that in the first half of 2022, the company's capacity investment and income kilometers fell by 34.3%and 42.6%year -on -year, respectively, and decreased by 54.8%and 64.8%compared with the same period in 2019.

The airlines with Shanghai -based bases are even more affected. Spring and Autumn Airlines stated in the performance trailer that the severity and duration of this round of epidemic in Shanghai were unprecedented, which caused a significant blow to the company's main business business. After breaking a hundred shifts, a total of 18 days were less than 100 times, and the lowest to 54 times. The daily utilization rate in April also set the lowest 2.1 hours since the opening of the market. Essence

However, Spring and Autumn Airlines also stated that under such extremely difficult situations, the company used the advantages of the depth of the air network to cooperate with multiple departments to quickly transfer first -line production personnel such as flights, flights, and machinery to markets outside Shanghai to ensure that ensuring Putting production under the premise of epidemic prevention safety and flight safety can effectively alleviate the operating pressure caused by the epidemic. After April 19th, the company's flight volume gradually rebounded, and the average number of flights in May and June rose to about 160 and 270 flights, respectively. The daily utilization rate was resumed to about 3.2 hours and 5.3 hours, respectively. Among them, flights on June 30 were The volume exceeded 350 flights, and decreased less than 9%from the same day before the epidemic, and surpassed the same period of flight volume in 2019 in early July.

The timely adjustment of this capacity has also made the losses of Spring Airlines in several listed airlines relatively small. According to the performance forecast of Spring and Autumn Airlines, it is expected that the net loss of home mothers in the first half of the year is 1.200 billion yuan to 1.30 billion yuan. In the same period last year, the net profit of the mother was RMB 1 billion.

Auspicious Airlines, which is based on Shanghai -based base, is expected to achieve a net loss of 1.62 billion yuan to 1.92 billion yuan in the first half of the year. In the same period last year, the net profit of 102 million yuan was achieved.

In the first half of last year, Huaxia Airlines, which was profitable in the first half of last year, was expected to lose 850 million yuan to 1.05 billion yuan in the first half of this year.

Multiple funds are not debt

The ST HNA, which has just completed the bankruptcy and reorganization, is expected to lose 11.95 billion yuan to 12.96 billion yuan in the first half of the year. At the same time, the company revealed in the announcement that with a preliminary estimation of the financial department, it is expected that by the end of the first half of 2022, the net assets attributable to shareholders of listed companies will be -3.25 billion yuan to -426 billion yuan. This means that in the first half of this year, ST HNA fascinated the debt again.

HNA, who has just "picking the stars", also stated in the announcement that if the company's net assets were negatively audited at the end of the 2022 period, according to the relevant provisions of the "Stock Listing Rules", the company's shares will be delisted after the disclosure of the 2022 annual report. Risk warning.

It is worth noting that at the National Civil Aviation New Year's Working Conference last week, the Civil Aviation Director Song Zhiyong revealed that as of now, 12 airlines have not debt in China. The average asset -liability ratio of domestic airlines has reached 82.2%, an increase of 11.9 percentage points from the epidemic.

In addition to HNA, many airlines have been funded at the end of last year. The largest of which was Shanhang, with a loss of 1.814 billion in 2021 and a debt ratio of 102.81%.

Shanghai Airlines, a subsidiary of China Eastern Airlines, reached 109.59%at the end of 2021; Chongqing Airlines, a subsidiary of China Southern Airlines, reached 113.2%at the end of 2021.

In addition, Urumqi and Fuzhou Airlines under HNA have also performed debts at the end of last year.

Many people in the industry pointed out to reporters that in order to continue to maintain daily operations, these non -debt airlines can only rely on the capital increase of major shareholders, or choose "selling themselves". At the press conference of the Civil Aviation Administration held recently, the Civil Aviation Administration also revealed that the relevant departments have won 3 billion yuan in capital injection of 3 billion yuan for the three major airlines of the country, East and South, and invested 2 billion yuan for the Capital Airport Group. On the basis of the airport emergency loan of 65.6 billion yuan, it also strives to add 150 billion yuan in emergency loans for new airlines.

- END -