AICAF - Air China Limited

Other OTC - Other OTC Delayed Price. Currency in USD
0.5860
0.0000 (0.00%)
At close: 12:15PM EDT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close0.5860
Open0.5860
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.5860 - 0.5860
52 Week Range0.5860 - 1.0500
Volume950
Avg. Volume1,700
Market Cap12.006B
Beta (5Y Monthly)1.78
PE Ratio (TTM)8.88
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.01 (1.06%)
Ex-Dividend DateJun 04, 2020
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • Cathay, Swire Pacific, Air China Suspend Trading in Hong Kong
      Bloomberg

      Cathay, Swire Pacific, Air China Suspend Trading in Hong Kong

      (Bloomberg) -- Embattled Hong Kong carrier Cathay Pacific Airways Ltd. and its two main shareholders, Swire Pacific Ltd. and Air China Ltd., suspended trading of their shares Tuesday pending an announcement.The move comes as Cathay contends with a slump in traffic brought on by the coronavirus outbreak and the travel restrictions that ensued. The curbs hit Cathay particularly hard because it has no domestic market to fall back on, whereas carriers in China are rebuilding capacity on flights within the mainland.Even before the pandemic, Cathay was under enormous financial and political pressures as it found itself caught up in the Hong Kong anti-government protests, which affected traffic numbers and led to the exit of the company’s former chief executive officer. Cathay was criticized by China, protesters and its own workers for its response to the demonstrations.Air China has owned about 30% of Cathay for more than a decade, while Swire, one of the last remaining British trading companies based in Hong Kong, has a 45% stake. Qatar Airways has a 9.99% holding.Cathay could be planning to raise funds via a rights issue backed by Swire and Air China, said Justin Tang, head of Asia research at United First Partners. He also said there’s been speculation that Air China may propose a takeover by buying Swire’s stake.Cathay Pacific’s Crisis Puts Focus on Air China’s Next Move Cathay and its Cathay Dragon unit posted an unaudited net loss of HK$4.5 billion ($581 million) in the first four months of the year as their route network shrank to just 14 destinations. In April, the two carriers combined flew only 458 passengers a day, on average, and Cathay warned that international travel demand will take a few years to recover. Cathay also owns Hong Kong Express.The coronavirus has hurt airlines the world over. Singapore Airlines Ltd., which like Cathay doesn’t have a domestic market to speak of, raised S$8.8 billion ($6.3 billion) in a rights issue last week and has followed that by securing new lines of credit and loans to further bolster its finances. Morgan Stanley said the rights issue alone should provide enough liquidity to see the airline through the fiscal year.The International Air Transport Association last month said the global airline industry’s debt could swell by 28% to $550 billion this year, with carriers expected to burn through about $60 billion of cash in the second quarter alone.(Updates with comment from analyst and background on Cathay’s performance beginning fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Hong Kong spearheads $5 billion Cathay Pacific rescue package
      Reuters

      Hong Kong spearheads $5 billion Cathay Pacific rescue package

      Hong Kong will lead a $5 billion (£4 billion) rescue of Cathay Pacific Airways <0293.HK>, which like other airlines has been hit by a global travel slump triggered by the coronavirus pandemic. The government's involvement in the recapitalisation follows the double blows of Hong Kong's political unrest and the coronavirus outbreak, which Cathay said meant it was burning through about HK$3 billion (£306 million) a month in cash. Cathay has grounded most of its planes, flying only cargo and a skeleton passenger network to major destinations such as Beijing, Los Angeles, Sydney and Tokyo.

    • Air China, China Eastern, China Southern Favored, Bocom Says
      Bloomberg

      Air China, China Eastern, China Southern Favored, Bocom Says

      Jun.07 -- Luya You, transportation analyst at Bocom International, discusses the prospects for Chinese airlines. China will ease a ban on flights to the country by foreign airlines on June 8. You speaks with Haslinda Amin and Yvonne Man on "Bloomberg Markets: Asia."

    • Reuters

      U.S. will allow Chinese passenger carriers to fly two flights per week

      The U.S. Transportation Department said Friday it will allow Chinese passenger air carriers to operate two flights after Beijing said it would ease coronavirus restrictions to allow in more foreign carriers. On Wednesday, Washington said it planned to bar all Chinese passenger airlines from flying to the United States by June 16 due to Beijing's curbs on U.S. carriers. The revised order Friday cuts in half the four weekly round trip flights Chinese passenger carriers have been flying to the United States and take effect immediately.

    • Reuters

      U.S. to revise Chinese passenger airline ban -sources

      The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said. On Thursday, China said it would ease coronavirus restrictions to allow more foreign carriers to fly to the mainland, shortly after Washington said it planned to bar Chinese passenger airlines from flying to the United States by June 16 due to Beijing’s curbs on U.S. airlines. The announcement should allow U.S. carriers to resume once-a-week flights into a city of their choosing starting on June 8.

    • Reuters

      EU lawmakers back suspension of airline slots rule until October

      European lawmakers overwhelmingly agreed on Thursday to suspend until Oct. 24 a rule requiring airlines to use at least 80% of their flight slots to keep them the following year so as to ease an industry crisis unleashed by the coronavirus pandemic. Following a deal reached last week by envoys of the EU's 27 member states, the European Parliament voted in its first-ever remote session in Brussels to suspend the EU slots rule until the summer season ends in late October as European flights fell 60% this week with several major airlines forced to ground their fleets. The last time the EU waived the airport slots rule was in 2009 because of the financial crisis.

    • China's carriers including Air China plan to reduce international flights amid coronavirus - Global Times
      Reuters

      China's carriers including Air China plan to reduce international flights amid coronavirus - Global Times

      March 16 (Reuters) - China's carriers including Air China, China Southern Airlines and China Eastern Airlines are planning to reduce international flights as part of anti-epidemic efforts, the Global Times reported on Monday, citing unnamed sources.

    • GRAPHIC-Coronavirus wipes $70 billion off global listed airlines
      Reuters

      GRAPHIC-Coronavirus wipes $70 billion off global listed airlines

      * Air China 3rd most valuable airline amid market tumult * Delta, Southwest highest by market cap * Airlines hardest hit by virus By Josephine Mason LONDON, March 10 (Reuters) - The rapid spread of coronavirus has wiped almost a third - or $70 billion - off the world's top 20 listed airlines and reshuffled global rankings, elevating Air China into third place behind U.S. rivals, an analysis by Reuters shows. With the investor sell-off accelerating, United Airlines has lost its number three position in the global line-up to Air China. Air China has been relatively unscathed - its market cap was $15 billion on Tuesday, compared with $19 billion on Jan. 2.

    • Reuters

      EU proposes dropping airline slot rule in response to coronavirus

      The European Commission has proposed temporarily dropping the rule that airlines operate 80% of scheduled services to retain landing slots as the coronavirus outbreak pummels the global aviation industry. Industry pressure was mounting on European authorities to waive the rule requiring airlines to run 80% of scheduled services or else forfeit unused take-off and landing slots, amid concern it is inducing some carriers to run empty 'ghost flights'.

    • Reuters

      EU Commission assessing amendment to aviation slot rules

      The European Commission is assessing all options including amending aviation slot rules in response to coronavirus outbreak, the EU Commission said on Tuesday. A final decision has yet to be taken, as the 27 commissioners were still meeting, an EU official said.

    • Reuters

      China to offer cash support to domestic, foreign carriers amid coronavirus outbreak

      BEIJING/SHANGHAI, March 4 (Reuters) - China will offer cash support to both domestic and foreign carriers to encourage them to restore services and not to suspend flights amid the coronavirus outbreak, the country's aviation regulator said on Wednesday. For every available seat kilometre, Beijing would award 0.0176 yuan for routes that have been shared by multiple carriers and 0.0528 yuan for routes that are only operated by one carrier, the Civil Aviation Administration of China said.

    • China's big airlines resume some global flights halted by coronavirus
      Reuters

      China's big airlines resume some global flights halted by coronavirus

      China's three biggest airlines have restored a fraction of the international flights they halted in the wake of a coronavirus outbreak, heeding a call from the aviation regulator as business activity recovers slowly. Air China resumed flying on Friday to the German commercial hub of Frankfurt from the southwestern city of Chengdu, following a 21-day suspension over the epidemic, state-run Xinhua news agency said. China Southern Airlines had recommenced flights on Tuesday to the Kenyan capital of Nairobi from the southern city of Guangzhou as demand revived on recovering trade with the African country.

    • Reuters

      Air China cancels flights between Beijing and Vienna

      Air China will cancel flights between Beijing and Vienna, Austria, from Feb. 28 through March 20 due to a lack of passengers, a Vienna Airport spokesman said on Wednesday. "Air China will arrive from Beijing tomorrow morning and return to China for the last time for now," the spokesman said. This means there will be no more direct connections between Austria and China for the time being.

    • Reuters

      China Eastern unveils OTT Airlines to operate Chinese-made jets

      China Eastern Airlines Corp Ltd launched on Wednesday a fresh subsidiary - OTT Airlines - to push home-grown aircraft to wider markets, the carrier said on its official account on Chinese social media platform Weibo. The Shanghai-based airline said OTT Airlines, which translates to 'one two three' in Chinese, would be the first airline to operate Commercial Aircraft Corp of China's (COMAC) C919 narrow-body planes, which are undergoing flight testing. China Eastern was initially slated to be the first operator.

    • Shares of HNA affiliates rally after report of China bailout plan
      Reuters

      Shares of HNA affiliates rally after report of China bailout plan

      BEIJING/SHANGHAI (Reuters) - Shares in affiliates of HNA Group surged on Thursday following a news report that China plans to take over the debt-laden conglomerate as the coronavirus outbreak has further hit its ability to meet financial obligations. The government of the southern province of Hainan, where HNA [HNAIRC.UL] is based, is in talks to take control of the group and sell off its airline assets, Bloomberg said on Wednesday, citing people familiar with the matter. HNA, which controls or holds stakes in a number of domestic carriers including its flagship Hainan Airlines <600221.SS>, did not immediately respond to requests for comment on the report.

    • Airlines Aren’t About to Succumb to the Coronavirus
      Bloomberg

      Airlines Aren’t About to Succumb to the Coronavirus

      (Bloomberg Opinion) -- Airlines are perpetually on the alert against crashes. That doesn’t mean the coronavirus epidemic will lead to any corporate disasters.The outbreak that originated in the Chinese city of Wuhan could push some airlines in Asia to the wall, according to Alan Joyce, chief executive officer of Australia’s biggest carrier Qantas Airways Ltd. “A lot of airlines may not be able to keep some of these operations going,” he told Angus Whitley and Kyunghee Park of Bloomberg News. “It’s survival of the fittest.”Such an outcome would provoke some schadenfreude at Qantas, the best-performing full-service carrier in a Bloomberg index of Asia-Pacific airlines over the past year. At the same time, it’s hard to point to any major company that’s plausibly close to the edge. While the aviation industry is perpetually teetering on the edge of profitability, one of the main reasons is that so many carriers are controlled by indulgent shareholders who will go to extraordinary lengths to see their businesses through rough patches.The impact of the epidemic is likely to be sharp. In 2003, SARS caused Asia-Pacific carriers to lose $6 billion in revenue and 8% of their traffic, according to the International Air Transport Association.At the same time, it will probably be short, too. As we’ve written, coronaviruses are winter diseases that should be well and truly in retreat by late spring. Should control measures now being implemented prove effective, recovery could be under way even sooner. If SARS is any guide, that will trigger a surge of pent-up demand from leisure and business travelers.Then there’s the fact that people around the world don’t just decide to stop travelling because there’s a virus outbreak in China. Indeed, the more likely response in many countries will be to encourage tourists to stay closer to home. That may benefit airlines’ domestic aviation businesses, which tend to be more profitable than longer-haul international arms.China’s market has remained frustratingly closed. Right now, that may be a blessing. About two-thirds of the passenger traffic beginning or ending at Chinese airports is operated by mainland carriers or Hong Kong-based Cathay Pacific Airways Ltd. The remaining traffic with a Chinese leg represents only about 5.7% of the global market, so only the most China-exposed operators are likely to see a material shock.Some airlines are clearly more vulnerable than others. Thailand, a major destination for Chinese tourists, is home to four struggling carriers where fierce competition has driven passenger revenue below operating costs, causing the listed industry to lose about three-quarters of its market capitalization in the past three-and-a-half years.Still, while all four are failing to pay their interest expenses out of income and only Thai Airways International Pcl can boast positive free cash flow, other factors may support them.Bangkok Airways Pcl was founded and is controlled by Prasert Prasarttong-Osoth, who may do quite well over the next few months since his fortune is based on operating private hospitals. Nok Airlines Pcl has a similar relationship with the Jurangkool auto-parts dynasty, and had already been acquiring fresh loans and capital infusions to keep its planes in the air. Thai Airways, which quashed speculation of imminent bankruptcy last year, is majority-owned by the government, while Asia Aviation Pcl is the local arm of the AirAsia Bhd empire, so should be able to count on similar support from head office.There’s no shortage of forgiving shareholders among cash-strapped airlines elsewhere in the region. PT Garuda Indonesia is, like Thai Airways, controlled by the government; PAL Holdings Inc. by Philippines billionaire Lucio Tan. Asiana Airlines Inc. and Virgin Australia Holdings Ltd. have been struggling for years, but the former was bailed out by a consortium of local investors in December while the latter has a long history of being supported by offshore airlines interested in keeping Qantas on the backfoot in its home market.It’s a similar picture in China itself, which will take the brunt of the impact. Only Air China Ltd. has been consistently racking up positive free cash flow of late, but every major listed carrier has ample interest coverage so shouldn’t be fearing imminent talks with creditors.Those that are state-owned enterprises will be able to count on the state standing behind them; Hainan Airlines Holding Co., which isn’t exactly, is already being looked after as part of the multi-year workout of the buying spree that its controlling shareholder HNA Group Co. went on in the middle part of the last decade.Cathay, for its part, has endured an annus horribilis but has for generations been a favorite child of its largest shareholder Swire Pacific Ltd. Like Virgin Australia, it has enough deep-pocketed owners to see it through a rough patch.That doesn’t mean that the region’s airlines won’t struggle over the months ahead. Still, the dream scenario for Qantas — where competitors go under and take some capacity out of Asia’s fiercely competitive market — may remain just that: a dream.To contact the author of this story: David Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Chinese airlines turn to Asia as long-haul losses pile up
      Reuters

      Chinese airlines turn to Asia as long-haul losses pile up

      BENGALURU/BEIJING - Chinese airlines are adding seats on short- and mid-range Asian flights in a strategic shift away from prestigious but loss-making North American routes to a market that promises better returns and growth. Over the past decade, the number of seats on U.S. routes operated by China's top three state-owned carriers rose fourfold, but such breakneck expansion came at a price. The nation's international aviation industry has been in the red for at least three years, with losses reaching 21.9 billion yuan ($3.13 billion) in 2018, according to recent China Air Transport Association data.

    • Reuters

      Chinese airlines hit by slides in demand on routes to Hong Kong, Taiwan

      China's three biggest airlines saw double-digit declines in demand on their so-called regional routes in September, as protests in Hong Kong and Beijing's travel restrictions to Taiwan took their toll. Two of them, China Southern Airlines and China Eastern Airlines have also aggressively cut capacity on those routes to Hong Kong, Macau and Taiwan - routes which account for about 5% of their revenue. China Eastern said demand on its regional routes, as measured by revenue passenger kilometres, tumbled by nearly a quarter in September from the same period a year earlier, while China Southern slid 21.1% and Air China fell 15.7%.

    • Air China has no plans to take over Cathay Pacific: media report
      Reuters

      Air China has no plans to take over Cathay Pacific: media report

      Air China Ltd <601111.SS> has no plans to take over Hong Kong's Cathay Pacific Airways Ltd <0293.HK>, an independent director of the state-owned Chinese carrier told the South China Morning Post newspaper. "Based on what I know, I wouldn't think that is anywhere on the agenda, no way," Air China non-executive director Stanley Hui told the newspaper when asked if the carrier, a 30% shareholder, might seek to buy Cathay outright. The Hong Kong airline has become the biggest corporate casualty of anti-government protests after China demanded it suspend staff involved in, or who support, demonstrations that have plunged the former British colony into a political crisis.

    • China's top airlines brace for smaller profits on slower demand, weak yuan
      Reuters

      China's top airlines brace for smaller profits on slower demand, weak yuan

      China's top three airlines are bracing for a further margin squeeze as softer travel demand pressures passenger yields and a weakening yuan currency inflates costs, analysts said, as many of them slashed their annual profit forecasts for the carriers. The outlook revision - for which analysts also cited an economic slowdown amid a U.S.-China trade war and fears of rising oil prices - comes after China Southern Airlines, Air China and China Eastern Airlines turned in lower net profits for the January-June period last week, erasing first-quarter gains. China Southern, the country's largest carrier by passenger numbers, posted a 20.9% year-on-year drop in profit to 1.69 billion yuan ($238 million), while China Eastern posted a 14.9% drop to 1.94 billion yuan.

    • Qatar Airways has full confidence in Cathay Pacific, eyes bigger stake
      Reuters

      Qatar Airways has full confidence in Cathay Pacific, eyes bigger stake

      Qatar Airways has full confidence in Cathay Pacific Airways Ltd and will increase its 10% stake in the Hong Kong carrier if it has any opportunity to do so, the Qatari airline's chief executive said on Tuesday. Cathay has become the biggest corporate casualty of political unrest in Hong Kong after China demanded it suspend staff involved in, or who support, anti-government demonstrations. "Cathay Pacific is there to stay, and to expand and to serve the people of both Hong Kong and China, as Hong Kong is an integral part of mainland China," Qatar Airways' Chief Executive Akbar al-Baker said.

    • Reuters

      UPDATE 1-Qatar Airways has full confidence in Cathay Pacific, eyes bigger stake

      Qatar Airways has full confidence in Cathay Pacific Airways Ltd and will increase its 10% stake in the Hong Kong carrier if it has any opportunity to do so, the Qatari airline's chief executive said on Tuesday. Cathay has become the biggest corporate casualty of political unrest in Hong Kong after China demanded it suspend staff involved in, or who support, anti-government demonstrations.

    • Air China to suspend Beijing-Hawaii flights amid weak travel demand
      Reuters

      Air China to suspend Beijing-Hawaii flights amid weak travel demand

      BEIJING/SHANGHAI (Reuters) - Air China will suspend its flights on the Beijing-Hawaii route from Aug. 27 after a review of its network, China's flagship carrier said on Tuesday, as travel demand remains weak amid an escalating U.S.-China trade war. Passengers who have purchased tickets for travel after that date will receive a full refund, Air China said in a statement on its website. The passenger load factor - an industry metric that measures how much of an airline's passenger carrying capacity is used - for Air China's thrice-weekly Beijing-Honolulu route averaged 66.37% last year, according to Chinese aviation data provider Variflight.

    • Reuters

      UPDATE 2-Air China to suspend Beijing-Hawaii route flights from Aug 27

      Air China will suspend its flights on the Beijing-Hawaii route from Aug. 27 after a review of its network, China's flagship carrier said on Tuesday, as travel demand remains weak amid an escalating U.S.-China trade war. Passengers who have purchased tickets for travel after that date will receive a full refund, Air China said in a statement on its website.

    • Air China to buy 20 A350-900 wide-body aircraft from Airbus
      Reuters

      Air China to buy 20 A350-900 wide-body aircraft from Airbus

      BEIJING/PARIS (Reuters) - Air China Ltd <601111.SS>, China's flagship carrier, will buy 20 A350-900 jets from Airbus SE <AIR.PA>, both companies said, bolstering the European planemaker's order book for wide-body jets against Boeing Co <BA.N> amid Sino-U.S. trade tensions. Air China on Thursday said the order is worth $6.54 billion, based on list prices, and that deliveries were scheduled from 2020 through 2022. Airbus, in a statement to Reuters, confirmed the order was new.