中国三大航空公司上半年亏损扩大 合计净亏损81.61亿元

中国国际航空、中国东方航空和中国南方航空三家航空公司2026年上半年全部陷入亏损，合计净亏损81.61亿元1。虽然三家公司营收均实现两位数增长，但受国际油价高位运行影响，燃油成本大幅上升超过30%，严重挤压了利润空间1。

其中，南航上半年营业总收入946.79亿元，同比增长9.72%，但归属母公司净亏损36.96亿元，相比上年同期亏损15.33亿元明显扩大1。中国国航上半年营业收入892.68亿元，同比增长10.54%，归母净亏损22.86亿元，上年同期亏损18.06亿元1。东航上半年营业总收入742.34亿元，同比增长11.09%，归母净亏损21.79亿元，上年同期亏损14.31亿元1。

China's three largest carriers—Air China, China Eastern Airlines, and China Southern Airlines—all posted net losses in the first half of 2026, with combined losses reaching 8.161 billion yuan (approximately 38.4 billion New Taiwan dollars) 1. Despite achieving double-digit revenue growth across the board, the carriers faced severe margin compression due to elevated international oil prices, which drove fuel costs up by more than 30 percent year-over-year 1.

China Southern Airlines reported the largest loss, with operating revenues of 94.679 billion yuan, up 9.72 percent, but a net loss attributable to the parent company of 3.696 billion yuan, compared to a loss of 1.533 billion yuan in the same period last year 1. Air China generated operating revenues of 89.268 billion yuan with a 10.54 percent increase, though it posted a net loss of 2.286 billion yuan versus 1.806 billion yuan previously 1. China Eastern Airlines recorded operating revenues of 74.234 billion yuan, representing an 11.09 percent increase, but incurred a net loss of 2.179 billion yuan against a prior-year loss of 1.431 billion yuan 1.