2021-08-27 16:00Membership and Fleet - Air China reported a total of 70.306 million members in its "Phoenix Miles" loyalty program as of the end of the reporting period[4]. - The company operates a fleet of 729 aircraft with an average age of 7.97 years, including 453 aircraft owned by Air China[4]. - The company introduced 23 new aircraft, including 3 A350s and 14 A320NEOs, bringing the total fleet to 729 aircraft with an average age of 7.97 years[34]. - The company plans to introduce 55 new aircraft from 2021 to 2023, with 34 expected in 2022 alone[35]. - The fleet size of Shenzhen Airlines reached 226 aircraft, with an average aircraft age of 7.64 years[70]. Financial Performance - The company's operating revenue for the reporting period was CNY 37,663,803, an increase of 27.05% compared to the same period last year (CNY 29,645,766)[16]. - The net loss attributable to shareholders was CNY (6,785,816), a decrease of 28.12% from the previous year's net loss of CNY (9,441,128)[17]. - The net cash flow from operating activities was CNY 7,331,717, a significant improvement from the previous year's negative cash flow of CNY (7,633,715), representing a 196.04% change[17]. - The total assets at the end of the reporting period were CNY 288,028,451, an increase of 1.39% from the previous year's total assets of CNY 284,070,710[17]. - The basic earnings per share for the reporting period was CNY (0.49), a 28.99% improvement from CNY (0.69) in the same period last year[17]. - The company reported a total of CNY 134,577 in non-recurring gains and losses for the reporting period[22]. - The company achieved operating revenue of RMB 37.66 billion in the first half of 2021, an increase of 27.05% year-on-year[41]. - Passenger revenue reached RMB 30.90 billion, an increase of RMB 7.95 billion, driven by increased capacity and higher load factors[42]. - The company reported a net cash flow from operating activities of RMB 7.33 billion, a significant recovery from a negative cash flow in the previous year[40]. - The company reported a net loss of 1.433 billion RMB for the period, compared to a net loss of 2.310 billion RMB in the same period last year[69]. Operational Metrics - The company achieved a passenger capacity of 82.5 billion available seat kilometers, an increase of 25.83% year-on-year, and a total passenger turnover of 58.253 billion revenue passenger kilometers, up 31.73% year-on-year[28]. - The cargo capacity reached 5.494 billion available ton kilometers, a year-on-year increase of 36.15%, with total cargo turnover of 2.067 billion ton kilometers, up 41.70% year-on-year[28]. - The passenger load factor improved to 70.61%, an increase of 3.16 percentage points year-on-year, while the cargo load factor rose to 37.63%, up 1.47 percentage points year-on-year[28]. - The company maintained a safety record of 860,000 flight hours and transported 38.61 million passengers during the reporting period[31]. - The domestic aviation market showed a recovery with passenger transport volume reaching 89.0% of the 2019 level in Q2 2021, indicating a significant recovery trend[25]. Strategic Initiatives - The company aims to enhance its competitive strength and customer experience, targeting a leading position in the global aviation market[4]. - The company aims to enhance its global network layout and improve passenger experience as part of its strategic transformation[23]. - The company is focused on building a world-class hub in Beijing and an international hub in Chengdu, aligning with national strategies[23]. - The company has developed a new brand, "Air China Express," focusing on high-quality service with 10 premium routes[32]. - The company is committed to enhancing its digital transformation, with the introduction of contactless services and RFID baggage tracking[33]. Environmental and Social Responsibility - AMECO reported a total nitrogen oxide emission of 0.969 tons during the reporting period, which is below the annual permitted emission of 3.88193 tons[83]. - The company effectively reduced aviation fuel consumption by 9,494.6 tons, leading to a decrease of 29,908.0 tons in carbon dioxide emissions[91]. - AMECO's ground power usage instead of APU during ground operations resulted in a reduction of 54,000 tons of carbon dioxide emissions[92]. - The company has a fleet of 773 new energy vehicles and has completed exhaust modifications on 1,456 diesel vehicles to minimize environmental impact[92]. - The company actively promotes green development initiatives, including a passenger carbon emission calculator to raise awareness among travelers[90]. - The company plans to invest a total of 40 million yuan in poverty alleviation projects in Guangxi and Inner Mongolia[94]. - The company has committed to a 5-year transition period for poverty alleviation efforts, ensuring continued support for targeted regions[93]. Debt and Financial Management - The company has issued corporate bonds with a total balance of 51.15 billion RMB at a rate of 5.10% maturing on January 18, 2023[121]. - The company has a repayment plan in place, ensuring timely payment of interest and principal for all issued bonds, including "12 国航 01", "12 国航 03", and others[127]. - The company has implemented measures to ensure debt repayment, including not distributing profits to shareholders and postponing major capital expenditures if unable to meet payment obligations[128]. - The company maintains an AAA credit rating with a stable outlook as of May 27, 2021, according to China Chengxin International Credit Rating Co., Ltd.[124]. - The company has consistently met its debt repayment obligations, maintaining a loan repayment rate of 100%[135]. Shareholder Information - The company reported a total of 150,734 common shareholders at the end of the reporting period[114]. - The largest shareholder, China Aviation Group, held 5,952,236,697 shares, representing 40.98% of total shares, with 127,445,536 shares frozen[115]. - The company has a total of 127,445,536 and 36,454,464 shares currently frozen due to regulations[119]. - The company does not have any strategic investors or general legal entities among the top ten shareholders[119]. - There are no changes in the controlling shareholder or actual controller during the reporting period[120]. Financial Reporting and Compliance - The company has maintained a standard audit report with Deloitte for the fiscal year 2021[97]. - The company adopts a control-based approach for determining the scope of consolidated financial statements, reassessing control when relevant facts change[176]. - The company recognizes foreign currency transactions at the spot exchange rate on the transaction date, with exchange differences recorded in the current profit or loss[180]. - The company uses the equity method to account for investments in joint ventures, which are classified as joint ventures[178]. - The company measures expected credit losses based on a combination of risk characteristics, including the type of business and geographical location of the debtor[192].