In 2025, the aviation industry continues to experience "strong passenger numbers but weak profits," with state-owned airlines posting losses and one profit.

WealthCoffee · 2026-03-31T23:43:48+00:00

China Southern Airlines turns a profit for the first time after the pandemic, achieving revenue of 182.252 billion yuan in 2025, with a net profit attributable to shareholders of 857 million yuan. In comparison, Air China and China Eastern Airlines both reported losses, amounting to 1.77 billion yuan and 1.633 billion yuan respectively, but China Eastern's losses have decreased.

WealthCoffee

2026-03-31 23:43:48

Abstract generation in progress

**【Caixin】**China Southern Airlines posted a profit for the first time in six years, breaking the situation of continued losses among the “three state-owned major airlines” following the pandemic. As of March 31, China’s “three state-owned major airlines” have released their 2025 annual reports. Among them, China Southern Airlines (600029.SH/1055.HK) recorded full-year operating revenue of RMB 182.252 billion, up 4.61% year over year; attributable net profit was RMB 0.857 billion, swinging from a loss to a profit year over year.

In 2025, the flag-carrier China National Aviation (601111.SH/0753.HK) recorded operating revenue of RMB 171.485 billion, up 2.87% year over year; attributable net net loss was RMB 1.77 billion, with its losses widening to RMB 1.533 billion. In the same period, China Eastern Airlines (600115.SH/0670.HK) achieved operating revenue of RMB 139.941 billion, up 5.92% year over year; attributable net loss was RMB 1.633 billion, narrowing losses by 25.33% year over year.

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