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Business trends

Chinese aviation companies begin to count losses

Midsize Shandong Airlines fears 1st quarter net loss of up to $99m due to coronavirus

Shandong Airlines expects a first quarter net loss of at least 500 million yuan after the impact of the coronavirus.

TOKYO -- Chinese aviation companies have begun to count their coronavirus losses, with severe profit warnings from smaller listed airlines expected to be followed by similar announcements at larger peers.

Shandong Airlines, a Shenzhen-listed midsize carrier, said on Tuesday that its net loss for the first quarter would be in the range of 500 million yuan to 700 million yuan ($70.9 million to $99.3 million). This will exceed the annual net profit of 361 million yuan for 2019.

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