Fleet and Operations - Air China has a total fleet of 707 aircraft with an average age of 7.74 years, operating 674 passenger routes, including 48 international routes and 620 domestic routes[4]. - The company executed 216 charter flights for epidemic prevention, transporting 31,000 passengers, and organized 154 customized flights for resuming work and school, carrying 18,000 passengers[9]. - The company executed 13,120 passenger cargo flights, implementing a "passenger aircraft cargo" operation model to enhance cargo capacity[11]. - The fleet introduced 14 new aircraft, including 2 A350s and 8 A320NEOs[37]. - The company plans to introduce 59 new aircraft in 2021, with a focus on Airbus and Boeing models[39]. - The company operates 674 passenger routes, including 48 international routes, 6 regional routes, and 620 domestic routes, covering 28 countries and regions with 147 cities[57]. Financial Performance - In 2020, the company's operating revenue was RMB 69.50 billion, a significant decrease from RMB 136.18 billion in 2019, reflecting a decline of 48.92%[31]. - The company reported an operating loss of RMB 11.17 billion in 2020, compared to an operating profit of RMB 14.64 billion in 2019[31]. - The total assets as of December 31, 2020, were RMB 284.03 billion, down from RMB 294.21 billion in 2019, indicating a decrease of 3.99%[32]. - The total liabilities increased to RMB 200.26 billion in 2020 from RMB 192.88 billion in 2019, representing an increase of 3.66%[32]. - The passenger traffic decreased to 68.69 million in 2020, down 40.28% from 115.01 million in 2019[35]. - The company reported a total operating revenue of RMB 69.504 billion, a decrease of RMB 66.677 billion or 48.96% year-on-year[73]. - The airline transportation revenue was RMB 64.280 billion, down RMB 65.977 billion or 50.65% year-on-year[73]. Market and Strategic Goals - Air China aims to enhance its competitive strength and customer experience, with a strategic goal of being among the world's leading airlines[3]. - The company has a strong focus on market expansion and strategic partnerships, including significant stakes in other airlines[3]. - The company plans to enhance its market expansion and product development strategies in response to the challenges faced in 2020[31]. - The Chinese aviation market is expected to continue recovering, driven by domestic demand and infrastructure expansion during the 14th Five-Year Plan[70]. - The company anticipates intensified competition in the domestic market as airlines shift focus from international to domestic routes[71]. Customer Experience and Innovation - The total number of Phoenix Miles members reached 68.1766 million, making it the longest-standing frequent flyer program in China[3]. - By the end of 2020, the company had covered 117 stations with electronic boarding pass services, significantly improving passenger convenience[19]. - The company completed 112 iterations of its mobile app and added over 1,970 new features to improve customer experience[45]. - The company has launched a passenger carbon emissions calculator on its app and website, enhancing its carbon emission management system[51]. - The company is focusing on enhancing operational efficiency and passenger experience at its Beijing hub, including the implementation of facial recognition technology for boarding[55]. Safety and Risk Management - The company is committed to high-quality development and has strengthened safety management and risk control measures in its operations[9]. - The company achieved a flight safety record of 1.55 million hours and transported 68.69 million passengers safely in 2020[30]. - The company has strengthened its risk management framework, conducting 31 internal audits and 31 risk control training sessions throughout the year[52]. - The company has established a comprehensive epidemic prevention network, ensuring the safety of employees and the continuity of important international routes[9]. Environmental and Social Responsibility - The company completed the first carbon emission monitoring plan in civil aviation, marking a significant step in environmental management[19]. - The company invested RMB 56.28 million in purchasing agricultural products from poverty-stricken areas and helped sell RMB 10.73 million worth of products[49]. - The company made charitable donations totaling RMB 95.28 million during the reporting period[174]. - The company has a fleet of 653 new energy vehicles and has built 195 charging piles as part of its green operations initiative[50]. Governance and Compliance - The company is committed to maintaining and improving governance standards to enhance accountability and transparency, thereby increasing long-term returns for shareholders[101]. - The board of directors consists of eight members, with four being independent non-executive directors, actively participating in company affairs[108]. - The company has adopted a board diversity policy since September 2013, considering various factors such as professional experience, cultural background, and industry knowledge to achieve diversity[115]. - The company has established compliance procedures to ensure adherence to applicable laws and regulations, particularly those significantly impacting its main business[177]. Shareholder Relations - The company has established various communication channels with shareholders, including annual reports and performance briefings[134]. - The company has actively communicated with shareholders, especially minority shareholders, to gather their opinions and concerns[153]. - The company will hold its annual general meeting on May 25, 2021, with H-share holders required to submit transfer documents by April 23, 2021[154]. Related Party Transactions - The group has entered into several related party transaction agreements, complying with the disclosure requirements of the listing rules[178]. - The ongoing related party transactions include air cargo sales agreements with subsidiaries of AVIC Group, determined based on equal voluntary principles[184]. - Independent non-executive directors confirmed that all continuous related party transactions were conducted under normal business terms and in the overall interest of shareholders[192].
中国国航(00753) - 2020 - 年度财报