航空产业网 2021-04-13
The 2020 figures show that Air China, traditionally thebest performer, slipped down the rankings this year to be overtaken by ChinaSouthern Airlines.
The financial data
Air China's revenue in 2020 was 69.504 billion yuan, ayear-on-year decrease of 48.96%; China Eastern Airlines' revenue in 2020 was58.639 billion yuan, a year-on-year decrease of 51.48%;China Southern Airlines'revenue in 2020 was 92.561 billion yuan, a year-on-year decrease of 40.02%.
China Southern Airlines, which has the largest fleet of thethree major airlines, suffered the smallest contraction and loss.
Fleet growth and operations
In 2020, the three major airlines will significantly slowdown the pace of aircraft introduction.
Air China originally planned to introduce 47 aircraft, butactually introduced 14. China Eastern Airlines originally planned to introduce46 aircraft, but actually introduced 13. China Southern Airlines originallyplanned to introduce 86 planes, but actually introduced 32.
Asset-liability ratio
In 2020, the debt-asset ratio of Air China and ChinaEastern Airlines increased by nearly 5 percent, while the debt-asset ratio ofChina Southern Airlines decreased slightly.
China Southern Airlines reduced the asset-liability ratio,the main reason is that the total assets increased more than the totalliabilities.The annual report said the increase in total assets was mainly dueto the issuance of stocks and convertible bonds and other projects during thereporting period to raise funds, resulting in an increase in current assets of22.247 billion yuan, up 132.91% year on year.