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青岛航空再面临“易主”,谁会接盘? 知情人士披露进展!
Xin Lang Ke Ji· 2025-08-21 00:41
Core Viewpoint - Qingdao Airlines is facing significant operational challenges and potential acquisition discussions, with HNA Group being a possible buyer, although no definitive agreement has been reached yet [2][4][5]. Company Performance - Qingdao Airlines has been operating at a loss since 2018, with a net loss of 16.17 million yuan in 2018 and continued losses in subsequent years, leading to a total loss exceeding 30 billion yuan over two years [5][6]. - The airline's asset-liability ratio reached 82% in 2019, indicating financial instability [5]. - As of the end of 2023, it was reported that Qingdao Airlines incurred losses exceeding 1.3 billion yuan in the first three quarters, making it the most loss-making non-listed airline [5]. Parent Company Financials - Qingdao Urban Investment has provided substantial loan guarantees for Qingdao Airlines, with the guarantee balance reaching approximately 11.36 billion yuan by the end of 2024, accounting for 89.65% of its total external guarantees [6][9]. - The parent company is also facing its own financial difficulties, planning to issue 10.2 billion yuan in bonds to repay maturing debts, indicating a "borrow new to repay old" strategy [7][9]. Operational Challenges - A significant operational issue for Qingdao Airlines is the grounding of many aircraft due to an engine recall, resulting in approximately 34% of its capacity being idle [10][11]. - The recall of the PW1000G engines has led to extensive inspections and repairs, with each engine requiring 250 to 300 days for maintenance, impacting the airline's operational efficiency [11].