Chart of the Day: ‘Big Three’ Airlines’ Billion-Yuan Losses

China’s “big three” state-owned airlines remained in the red in 2023, despite narrowing losses from 2022, according to their annual reports, as international travel continued to lag pre-pandemic levels.

Profitability remained some ways away for the carriers. Shanghai-based China Eastern Airlines Corp. (600115.SH) reported the largest loss among the trio — 8.17 billion yuan ($1.13 billion) for 2023, even as its revenue leapt 145.6% to 113.7 billion yuan, according to stock exchange filings released Thursday. Guangzhou-based China Southern Airlines Co. Ltd. (600029.SH), the country’s largest carrier by number of passengers, booked a deficit of 4.2 billion yuan for 2023. Still, its revenue jumped 83.7% to 159.9 billion yuan.