Spring Airlines Co.,Ltd. Posted 355.6 Million Yuan Net Profit in First Quarter of 2023

Spring Airlines Co.,Ltd. (春秋航空股份有限公司) (601021.SH) reported a net profit of 355.6 million yuan in the first quarter of 2023, reversing a net loss of 437 million yuan for the same period in the previous year.

Meanwhile, the company posted 3.9 billion yuan in revenue, up 63.6% year-on-year.

At the end of the reporting period, it had 42.8 billion yuan in total assets and 28.7 billion yuan in total liabilities, with a liability-to-asset ratio of 67.1%.