The net loss of Jixiang airlines in the first three quarters was 480 million yuan, and the accumulated net profit of the whole year is expected to be negative

On the evening of October 27, Shanghai Jixiang Airlines Co., Ltd. (hereinafter referred to as auspicious Airlines) released the third quarter report of 2020. In the third quarter, the company achieved revenue of 3 billion yuan, a year-on-year decrease of 39.3%; the net profit attributable to shareholders of listed companies was 196 million yuan, down 69.6% year-on-year. On the whole, in the first three quarters of 2020, auspicious Airlines achieved a revenue of 7.17 billion yuan, a year-on-year decrease of 44.86%; the net profit attributable to shareholders of listed companies was 480 million yuan, compared with 1.224 billion yuan in the same period of last year, a year-on-year decrease of 139.19%. It is worth noting that from January to September, Jixiang airlines lost 58.428 million yuan in net cash flow from operating activities, a decrease of 102.41% over the same period of last year. Novel coronavirus pneumonia has caused a major impact on the transportation industry of the company,

said. In novel coronavirus pneumonia, the company pointed out that since the outbreak of the new crown pneumonia, the company has actively participated in the work of epidemic prevention and epidemic prevention, and optimized the layout and tariff of the airline in time according to the development of the epidemic situation, changes in market supply and demand and prevention and control policies. Novel coronavirus pneumonia also said that the current duration of the new crown pneumonia outbreak is uncertain. The company’s net profit in 2020 is expected to be a loss based on the preliminary judgement of the current situation.

< p > < p > among the top ten circulating shareholders, during the reporting period, Shanghai Junyao (Group) Co., Ltd. held 51.92% of the shares, which was the largest shareholder of Jixiang airlines. China Eastern Aviation Industry Investment Co., Ltd. and Wang Junhao were the second and third largest shareholders respectively, holding 15% and 3.39% respectively. It is worth noting that Wang Junhao is one of the founders of Junyao group and currently serves as the president of Junyao group. According to the official website, Shanghai Jixiang Aviation Co., Ltd. was established in 2006. At present, the company has 76 Airbus A320 series and Boeing 787-9 Dreamliner. Today, auspicious Airlines has established partnership with Air China, United Airlines, Air Canada, All Nippon Airways and other official members of the Star Alliance to carry out frequent passenger cooperation and realize the sharing of points and mileage and the exchange of free tickets. According to wind information, auspicious Airlines was listed on the main board of Shanghai in 2015, with a total revenue of 16.749 billion yuan in 2019, including 97.18% of passenger revenue, 8628 employees and Wang junjin as its legal representative. According to the analysis of Tianfeng securities, the domestic epidemic situation in China has been basically effectively controlled in the third quarter, but the recovery of national travel still lags behind the epidemic situation. The hidden travel restrictions have not been completely lifted from July to August. The delay of the college entrance examination also shortens the peak season time. Moreover, the return of overseas transport capacity leads to certain supply and digestion pressure on domestic lines. Major airlines launch various kinds of “fly at will” to The price exchange promoted the recovery of demand, and the civil aviation traffic volume rebounded rapidly in the third quarter, but the price continued to be depressed, adding to the high base in the peak season, the freight rate dropped by a relatively high percentage. < p > < p > Tianfeng securities also said that the current epidemic situation control idea of dynamic clearing of confirmed cases in China will effectively prevent and control the rebound and overseas import pressure, which is difficult to affect the normal production and life of the whole people. The domestic line of civil aviation will continue to recover as a whole, while the number of confirmed cases overseas has reached a new high in a single day, which means that the recovery of international lines still needs to wait. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. The content of this paper is for reference only and does not constitute investment advice. Investors operate accordingly and bear their own risks. < p > < p > Chinanet is a national key news website under the leadership of the Information Office of the State Council and managed by China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website releases information 24 hours a day, which is an important window for China to carry out international communication and information exchange.