Air China narrows loss in Q1 of 2023 as revenue jumps amidst travel rebound

Air China reported a net loss of $443 million (2.93 billion yuan) for the Q1 ending March 31, 2023. The airline made a basic loss of 0.19 yuan per share during the quarter, according to a Wednesday filing while the revenue rose by 94.06% to $3.6 billion (25.07 billion yuan). The airline had reported a loss of 8.9-billion-yuan same time last year. The Q1 of 2023 loss reported by the airline is more than 67 % from a year earlier while the revenue almost doubled. Most of Air China’s revenue came from international routes making it the most badly affected