Air China Limited provided earnings guidance for the year ended December 31, 2023. According to the preliminary estimation by the finance department of the Company, the Company recorded a loss for the year of 2023. It is expected that the net loss attributable to equity holders of the Company would be approximately RMB 0.9 billion to RMB 1.3 billion, and the net loss attributable to equity holders of the Company after deducting non-recurring profit or loss would be approximately RMB 2.7 billion to RMB 3.7 billion.

The estimated results have not been audited by certified accountants. Net loss attributable to equity holders of the Company for the Corresponding Period in 2022: RMB 38.619 billion. Net loss attributable to equity holders of the Company after deducting non-recurring profit or loss for the Corresponding Period in 2022: RMB 39.184 billion.

Loss per share for the Corresponding Period in 2022: RMB 2.81. In 2023, as the demand for air passenger transportation rebounded, the Company seized the opportunity of market recovery to further promote quality and efficiency enhancement, adhered to the principle of "increasing input, securing prices and competing for volume", and made every effort to promote revenue growth. The Company insisted on the idea of "living in a tight budget" and strictly controlled costs and expenses.

The Company strengthened the integration of resources in key areas, and achieved results in collaborative development. The Company continued to improve its risk control and compliance management mechanism, resulting in safe and stable production operations. The Company's annual operating performance has significantly improved compared to the previous year, achieving a substantial reduction in losses.

However, due to factors such as the incomplete recovery of international routes, intensified competition in the domestic market and fluctuations in oil prices and exchange rates, the Company remained to incur operating losses in the year 2023.