Air China Ltd. (601111.SH) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	223.8B	171.5B	166.7B	141.1B	52.9B
Cost of Revenue	216.9B	162.6B	158.2B	134.0B	82.8B
Gross Profit	6.9B	8.8B	8.5B	7.1B	(29.9B)
Operating Expenses
R&D Expense	376.2M	470.8M	432.1M	373.5M	243.6M
SG&A Expense	3.0B	—	—	—	—
General & Admin Expense	5.6B	5.6B	5.5B	5.1B	4.8B
Selling & Marketing Expense	7.1B	7.2B	6.9B	5.3B	3.5B
Other Expenses	153.8M	—	—	—	—
Total Operating Expenses	16.8B	18.5B	20.0B	18.6B	19.1B
Cost and Expenses	233.7B	181.1B	178.2B	152.6B	101.9B
Operating Income (EBIT)	(3.6B)	(2.0B)	(3.4B)	(3.3B)	(46.1B)
Non-Operating
Interest Income	158.1M	—	—	—	—
Interest Expense	2.4B	—	—	—	—
Net Interest Income	(2.2B)	—	—	—	—
Other Non-Op Income/Expense	3.1B	—	—	—	—
Non-Operating Income (excl Interest)	—	—	—	—	—
EBT (Pre-Tax Income)	(14.5M)	(1.6B)	(1.6B)	(1.7B)	(45.9B)
Income Tax Expense	2.4B	1.9B	844.9M	(91.2M)	(703.6M)
Bottom Line
Net Income	(518.6M)	(1.8B)	(237.3M)	(1.0B)	(38.6B)
Earnings from Cont. Ops	(2.4B)	(3.5B)	(2.5B)	(1.6B)	(45.2B)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(518.6M)	(1.8B)	(237.3M)	(1.0B)	(38.6B)
Per Share
Basic EPS	(CN¥0.04)	(CN¥0.11)	(CN¥0.01)	(CN¥0.07)	(CN¥2.81)
Diluted EPS	(CN¥0.04)	(CN¥0.11)	(CN¥0.01)	(CN¥0.07)	—
Revenue Per Share	CN¥13.05	CN¥10.65	CN¥7.02	CN¥9.44	CN¥3.85
Shares
Basic Shares Outstanding	17.1B	16.1B	23.7B	14.9B	13.7B
Diluted Shares Outstanding	17.1B	16.1B	23.7B	14.9B	13.7B
Profitability Metrics
EBITDA	9.4B	13.2B	10.3B	8.5B	(37.1B)
D&A	15.7B	15.2B	13.7B	11.8B	9.0B
EBIT	(6.2B)	—	—	—	—

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026