China Southern Airlines (SHA:600029, HKG:1055) said its unrecovered losses exceeded one-third of its total share capital in 2024 amid persistent losses despite efforts to optimize operations and reduce costs.
Unrecovered losses amounted to 38.6 billion yuan, compared with its registered capital of 18.1 billion yuan, according to a Wednesday filing with the Shanghai bourse.
China Southern Airlines outlined a strategy for 2025 that focuses on optimizing the passenger market, expanding cargo operations and cutting costs.
Shares of the company were down 2% on the Shanghai bourse on Thursday.
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