China Southern Airlines Company (1055) Q3 2026 earnings summary

Executive summary

• Unaudited Q3 2026 revenue was RMB52,533 million, up 2.26% YoY; attributable net loss was RMB609 million, versus the prior-year quarter.

• 9M revenue rose 6.93% to RMB147,212 million, but the period ended with an attributable net loss of RMB4,305 million, versus net profit of RMB2,307 million in 9M 2025.

Financial highlights

• Q3 profit before income tax was RMB158 million, down 97.13% YoY; 9M profit before income tax was a loss of RMB1,872 million, versus profit of RMB6,093 million.

• 9M operating loss was RMB2,275 million, versus operating profit of RMB5,509 million in 9M 2025; operating costs increased to RMB154,787 million from RMB135,113 million.

• 9M net loss attributable to shareholders after deducting non-recurring gains and losses was RMB5,590 million; the reported attributable net loss was RMB4,305 million.

• 9M basic EPS was RMB-0.24 and diluted EPS was RMB-0.25, versus RMB0.13 and RMB0.12, respectively, in 9M 2025.

Key financial ratios and metrics

• Weighted average return on net assets was -1.87% for Q3, down 12.57 percentage points YoY, and -13.22% for 9M, down 19.65 percentage points.

• Total assets were RMB370,549 million at 30 September 2026, up 5.93% from year-end 2025; equity attributable to shareholders was RMB29,508 million, down 17.07%.

• 9M operating cash flow was RMB25,063 million, down 22.61% YoY; cash and cash equivalents ended the period at RMB14,414 million.