Company data sheet · China Southern Airlines
China Southern Airlines: three lost years, and the economy wasn't the reason.
- Industry
- Air Transportation, Scheduled
- Headquarters
- China
- Ticker
- CHKIF (OTC)
- Sources
- SEC filings (1999–2024), Stratrix's verified Decision Cases, market data and official economic statistics for China
- Data as of
- October 18, 2026
- From profit to three straight losses. China Southern Airlines earned CN¥11.5 billion in 2017–2019. Then it lost money every year from 2020 to 2022: CN¥55.7 billion in all.
- It wasn't the cycle. The losses began in 2020, a year China economy grew 2.0%. When a company falls while its economy grows, look inside the company first.
- Left behind by its peers. From 2016 to 2022, its revenue shrank 25% in US dollars; the median among 91 large transportation and utility companies grew 31%. It outgrew only 12% of them.
- Still smaller than it was. Revenue reached CN¥87.1 billion in 2022, 44% below its 2019 peak of CN¥154 billion.
Financial results
| Fiscal year | Revenue | Net income | |
|---|---|---|---|
| 2016 | CN¥115 billion | CN¥5 billion | |
| 2017 | CN¥128 billion | CN¥6 billion | |
| 2018 | CN¥144 billion | CN¥2.9 billion | |
| 2019 | CN¥154 billion | CN¥2.6 billion | |
| 2020 | CN¥92.6 billion | −CN¥10.8 billion | |
| 2021 | CN¥102 billion | −CN¥12.1 billion | |
| 2022 | CN¥87.1 billion | −CN¥32.7 billion |
As reported in its annual filings, in CNY. Losses in red.
The full data sheet · Data Plan
Everything behind these findings, ready for your board deck.
- Economic context: 3 measures for China, every year since 2016, from the official sources.
- Peer comparison: against 123 companies of its size in its sector.
- Financial results: ten years of revenue, operating and net income, and every annual report, linked.
- Methods and sources, so each number can be checked and cited.
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