China Southern Airlines Co Ltd 6-K, filed Mar 30, 2021

China Southern Airlines Co Ltd (CHKIF)

6-K 2021-03-30 For: 2021-03-30

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Added on April 06, 2026

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China Southern Airlines Co Ltd filed this 6-K on March 30, 2021.

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CHINA SOUTHERN AIRLINES COMPANY LIMITED

By:		/s/ Xie Bing
Name:		Xie Bing
Title:		Company Secretary

Date: March 30, 2021


	Note	2020 *RMB million*			2019 RMB million
Operating revenue
Traffic revenue			87,027			148,117
Other operating revenue			5,534			6,205

Total operating revenue	4		92,561			154,322

Operating expenses
Flight operation expenses	5		37,545			70,566
Maintenance expenses			13,375			13,057
Aircraft and transportation service expenses			18,743			26,591
Promotion and selling expenses			5,007			7,755
General and administrative expenses			4,088			4,073
Depreciation and amortisation	6		24,590			24,620
Impairment losses on property, plant and equipment and right-of-use assets	12/14		3,961			18
Others			1,802			1,928

Total operating expenses			109,111			148,608

Other net income	7		4,686			5,124

Operating (loss)/profit			(11,864	)		10,838


	Note		2020 *RMB million*			2019 RMB million
Interest income				322			74
Interest expense		8		(6,716	)		(5,845	)
Share of associates’ results				(776	)		(178	)
Share of joint ventures’ results				309			365
Exchange gain/(loss), net		20		3,485			(1,477	)
Loss on disposal of a subsidiary				(8	)		—
Changes in fair value of financial assets/ liabilities				53			265
Remeasurement of the originally held equity interests in a joint venture				—			13

(Loss)/profit before income tax				(15,195	)		4,055
Income tax		9		3,368			(971	)

(Loss)/profit for the year				(11,827	)		3,084

(Loss)/profit attributable to:
Equity shareholders of the Company				(10,847	)		2,640
Non-controlling interests				(980	)		444

(Loss)/profit for the year				(11,827	)		3,084

(Loss)/earnings per share
Basic and diluted		10		RMB(0.77	)		RMB0.22


	2020			2019
	*RMB million*			RMB million
(Loss)/profit for the year		(11,827	)		3,084

Other comprehensive income:
Items that will not be reclassified to profit or loss
– Equity investments at fair value through other comprehensive income – net movement in fair value reserve (non-recycling)		(250	)		(31	)
– Share of other comprehensive income of an associate		(2	)		3
– Income tax effect of the above items		63			7

Items that may be reclassified subsequently to profit or loss
– Cash flow hedge: fair value movement of derivative financial assets/liabilities		(45	)		(72	)
– Differences resulting from the translation of foreign currency financial statements		8			(7	)
– Share of other comprehensive income of an associate		(3	)		—
– Income tax effect of the above items		11			17

Other comprehensive income for the year		(218	)		(83	)

Total comprehensive income for the year		(12,045	)		3,001

Total comprehensive income attributable to:
Equity shareholders of the Company		(11,011	)		2,552
Non-controlling interests		(1,034	)		449

Total comprehensive income for the year		(12,045	)		3,001


		31 December 2020		31 December 2019
	Note	*RMB million*		RMB million
Non-current assets
Property, plant and equipment, net	12		86,146		84,788
Construction in progress	13		32,407		39,222
Right-of-use assets	14		151,065		153,211
Goodwill			237		237
Interest in associates			2,449		3,322
Interest in joint ventures			3,225		3,124
Aircraft lease deposits			362		457
Other equity instrument investments			799		1,049
Other non-current financial assets			92		106
Derivative financial assets			—		3
Deferred tax assets	15		7,739		2,692
Other assets			2,877		1,979

			287,398		290,190

Current assets
Inventories			1,760		1,893
Trade receivables	16		2,525		3,152
Other receivables	17		8,347		7,860
Cash and cash equivalents			25,419		1,849
Restricted bank deposits			117		102
Prepaid expenses and other current assets			732		1,591
Derivative financial assets			—		218
Amounts due from related companies			85		73

			38,985		16,738


	Attributable to equity shareholders of the Company
								Fair value
					Fair value			reserve												Non-
	Share		Share		reserve			(non-			Other			Retained						controlling			Total
	capital		premium		(recycling)			recycling)			reserves			earnings			Total			interests			equity
	*RMB*		*RMB*		*RMB*			*RMB*			*RMB*			*RMB*			*RMB*			*RMB*			*RMB*
	*million*		*million*		*million*			*million*			*million*			*million*			*million*			*million*			*million*
Balance at 1 January 2019		12,267		25,652		57			436			2,635			21,086			62,133			12,874			75,007

Changes in equity for 2019:
Profit for the year		—		—		—			—			—			2,640			2,640			444			3,084
Other comprehensive income		—		—		(55	)		(27	)		(6	)		—			(88	)		5			(83	)
Total comprehensive income		—		—		(55	)		(27	)		(6	)		2,640			2,552			449			3,001
Appropriations to reserves		—		—		—			—			181			(181	)		—			—			—
Dividends relating to 2018		—		—		—			—			—			(613	)		(613	)		—			(613	)
Distributions to non-controlling interests		—		—		—			—			—			—			—			(86	)		(86	)
Acquisition of non-controlling interests in a subsidiary		—		—		—			—			(10	)		—			(10	)		(14	)		(24	)
Change in other reserves		—		—		—			—			44			—			44			—			44

Balance at 31 December 2019 and 1 January 2020		12,267		25,652		2			409			2,844			22,932			64,106			13,223			77,329

Changes in equity for 2020:
Loss for the year		—		—		—			—			—			(10,847	)		(10,847	)		(980	)		(11,827	)
Other comprehensive income		—		—		(37	)		(135	)		8			—			(164	)		(54	)		(218	)
Total comprehensive income		—		—		(37	)		(135	)		8			(10,847	)		(11,011	)		(1,034	)		(12,045	)
Issuance of shares		3,062		12,889		—			—			—			—			15,951			—			15,951
Acquisition of non-controlling interests in a subsidiary		—		—		—			—			(155	)		—			(155	)		(105	)		(260	)
Capital injection from non-controlling interests		—		—		—			—			700			—			700			3,521			4,221
Distributions to non-controlling interests		—		—		—			—			—			—			—			(57	)		(57	)
Decrease in non-controlling interests as a result of loss of		—		—		—			—			—			—			—			(1	)		(1	)
control of a subsidiary		—		—		—			—			(7	)		—			(7	)		—			(7	)

Change in other reserves
Balance at 31 December 2020		15,329		38,541		(35	)		274			3,390			12,085			69,584			15,547			85,131


	Airline transportation operations *RMB million*			Other segments *RMB million*			Elimination *RMB million*			Unallocated* *RMB million*			Total *RMB million*
Disaggregated by timing of revenue recognition Point in time		2,856			1,727			(1,483	)		—			3,100
Over time		89,196			2,448			(2,183	)		—			89,461

Revenue from external customers		91,722			839			—			—			92,561
Inter-segment sales		330			3,336			(3,666	)		—			—

Reportable segment revenue		92,052			4,175			(3,666	)		—			92,561

Reportable segment loss before taxation		(14,727	)		(112	)		1			(348	)		(15,186	)

Reportable segment loss after taxation		(11,388	)		(61	)		1			(372	)		(11,820	)

Other segment information
Income tax		(3,339	)		(51	)		—			24			(3,366	)
Interest income		328			26			(32	)		—			322
Interest expense		6,739			11			(34	)		—			6,716
Depreciation and amortisation		24,438			143			—			—			24,581
Impairment loss		4,015			2			—			—			4,017
Credit losses		153			11			—			—			164
Share of associates’ results		—			—			—			(776	)		(776	)
Share of joint ventures’ results		—			—			—			309			309
Change in fair value of financial assets/liabilities		—			—			—			53			53
Non-current assets additions during the year^#		24,039			547			(49	)		—			24,537


	Airline transportation operations RMB million		Other segments RMB million		Elimination RMB million			Unallocated* RMB million			Total RMB million
Disaggregated by timing of revenue recognition Point in time		2,996		2,747		(2,401	)		—			3,342
Over time		149,799		2,785		(1,604	)		—			150,980

Revenue from external customers		152,591		1,731		—			—			154,322
Inter-segment sales		204		3,801		(4,005	)		—			—

Reportable segment revenue		152,795		5,532		(4,005	)		—			154,322

Reportable segment profit before taxation		3,020		558		2			490			4,070

Reportable segment profit after taxation		2,224		446		2			423			3,095

Other segment information
Income tax		796		112		—			67			975
Interest income		64		41		(31	)		—			74
Interest expense		5,833		43		(31	)		—			5,845
Depreciation and amortisation		24,256		354		—			—			24,610
Impairment loss		38		—		—			—			38
Credit losses		11		2		—			—			13
Share of associates’ results		—		—		—			(178	)		(178	)
Share of joint ventures’ results		—		—		—			365			365
Remeasurement of the originally held equity interests in a joint venture		—		—		—			13			13
Change in fair value of financial assets/liabilities		—		—		—			265			265
Non-current assets additions during the year^#		44,851		739		—			—			45,590


	Airline transportation operations RMB million		Other segments RMB million		Elimination RMB million			Unallocated* RMB million		Total RMB million
As at 31 December 2020
Reportable segment assets		317,741		6,019		(4,209	)		6,564		326,115
Reportable segment liabilities		239,968		2,237		(4,154	)		3,201		241,252

As at 31 December 2019
Reportable segment assets		295,439		7,048		(3,662	)		7,821		306,646
Reportable segment liabilities		230,738		2,458		(3,604	)		—		229,592


	2020 *RMB million*		2019 RMB million
Domestic		65,137		110,112
International		27,090		41,651
Hong Kong, Macau and Taiwan		334		2,559

		92,561		154,322


	31 December 2020 *RMB million*		31 December 2019 RMB million
Liabilities
Reportable segment liabilities		241,252		229,592
Others		—		7

Consolidated total liabilities		241,252		229,599


	2020 *RMB million*		2019 RMB million
Jet fuel costs		18,797		42,814
Flight personnel payroll and welfare		10,232		12,709
Air catering expenses		1,765		3,975
Civil Aviation Development Fund		—		2,332
Aircraft operating lease charges		977		1,412
Training expenses		857		1,142
Aircraft insurance		191		192
Others		4,726		5,990

		37,545		70,566


	2020 *RMB million*		2019 RMB million
Depreciation of property, plant and equipment		8,824		9,029
Depreciation of right-of-use assets		15,388		15,263
Other amortisation		378		328

		24,590		24,620


	2020 *RMB million*			2019 RMB million
Government grants		4,209			4,129
(Loss)/gain on disposal of property, plant and equipment, net
– Aircraft and spare engines		(18	)		34
– Other property, plant and equipment		75			106
Penalty income		142			273
Others		278			582

		4,686			5,124


	2020 *RMB million*			2019 RMB million
Interest on borrowings		1,914			1,840
Interest relating to leases liabilities		5,180			5,302

Total interest expense on financial liabilities not at fair value through profit or loss		7,094			7,142
Less: interest expense capitalised		(363	)		(1,279	)

		6,731			5,863
Interest rate swaps: cash flow hedge, reclassified from equity		(15	)		(18	)

		6,716			5,845


		31 December 2020			31 December 2019
	Note	*RMB million*			RMB million
Current liabilities
Derivative financial liabilities	18		3,148			—
Borrowings	19		40,099			37,543
Lease liabilities	20		20,930			19,998
Trade payables	21		1,782			2,317
Contract liabilities			1,513			1,610
Sales in advance of carriage			3,997			10,303
Current income tax			462			563
Amounts due to related companies			357			170
Accrued expenses			15,920			15,745
Other liabilities			7,473			7,241

			95,681			95,490

Net current liabilities			(56,696	)		(78,752	)

Total assets less current liabilities			230,702			211,438

Non-current liabilities
Borrowings	19		38,134			13,637
Lease liabilities	20		100,283			114,076
Derivative financial liabilities			53			—
Other non-current liabilities			2,036			1,782
Provision for major overhauls			4,216			3,542
Deferred benefits and gains			769			833
Deferred tax liabilities			80			239

			145,571			134,109

Net assets			85,131			77,329

Capital and reserves
Share capital			15,329			12,267
Reserves			54,255			51,839

Total equity attributable to equity shareholders of the Company			69,584			64,106
Non-controlling interests			15,547			13,223


	2020 *RMB million*			2019 RMB million
PRC income tax
– Provision for the year		1,716			1,611
– Under-provision in prior year		48			10

		1,764			1,621
Deferred tax
Origination and reversal of temporary differences		(5,132	)		(650	)

Income tax (benefit)/expenses		(3,368	)		971


	2020 *RMB million*			2019 RMB million
(Loss)/profit before income tax		(15,195	)		4,055

Notional tax on (loss)/profit before taxation, calculated at the rates applicable to (loss)/profits in the tax jurisdictions concerned		(3,667	)		964

Adjustments for tax effect of:
Non-deductible expenses		102			18
Share of results of associates and joint ventures and other non-taxable income		111			(50	)
Unused tax losses and deductible temporary differences for which no deferred tax assets were recognised		80			62
Utilisation of unused tax losses and deductible temporary differences for which no deferred tax assets were recognised in prior years		(8	)		(3	)
Under-provision in prior year		48			10
Super deduction of research and development expenses		(34	)		(30	)

Income tax (benefit)/expenses		(3,368	)		971


	2020 *million*		2019 million
Issued ordinary shares at 1 January		12,267		12,267
Effect of issuance of shares		1,790		—

Weighted average number of ordinary shares at 31 December		14,057		12,267


	Investment properties			Buildings			Aircraft			Other flight equipment including rotables			Machinery, equipment and vehicles			Total
	RMB million			RMB million			RMB million			RMB million			RMB million			RMB million
Cost:
At 1 January 2019		813			13,154			108,762			22,608			7,249			152,586
Acquisitions through business combinations		—			—			—			—			18			18
Additions		—			181			3,034			2,380			860			6,455
Transferred from construction in progress		—			2,515			871			200			456			4,042
Reclassification on change of holding intention:
– transferred to other property, plant and equipment, net		(327	)		327			—			—			—			—
– transferred to right-of-use assets (Note 14)		(16	)		—			—			—			—			(16	)
Transferred from right-of-use assets on exercise of purchase option (Note 14)		—			—			2,641			—			—			2,641
Disposals		—			(131	)		(2,032	)		(803	)		(330	)		(3,296	)

At 31 December 2019		470			16,046			113,276			24,385			8,253			162,430

At 1 January 2020		470			16,046			113,276			24,385			8,253			162,430
Additions		—			12			1,435			542			935			2,924
Transferred from construction in progress		—			5,720			3,719			497			1,340			11,276
Reclassification on change of holding intention:
– transferred from other property, plant and equipment, net		52			(52	)		—			—			—			—
Transferred from right-of-use assets on exercise of purchase option (Note 14)		—			—			2,780			—			—			2,780
Disposals
– disposals		—			(152	)		(6,830	)		(399	)		(558	)		(7,939	)
– disposal of a subsidiary		—			(99	)		—			—			(34	)		(133	)

At 31 December 2020		522			21,475			114,380			25,025			9,936			171,338


Components related to engine overhaul costs	Before the change	After the change
Expected useful lives/ Expected flying hours	3-5.5 years	9-42 thousand hours
Estimated net residual rate	—	—
Annual depreciation rate/Depreciation rate per thousand flying hours	18.2%-33.3%	2.4%-11.1%


	2020 *RMB million*		2019 RMB million
Advance payment for aircraft and flight equipment		29,342		30,919
Others		3,065		8,303

		32,407		39,222


	Aircraft			Land use
	and engines			rights			Buildings			Others			Total
	RMB million			RMB million			RMB million			RMB million			RMB million
Cost:
At 1 January 2019		187,991			3,671			1,300			138			193,100
Additions		20,609			225			1,490			51			22,375
Transfer from construction in progress		10,202			110			—			203			10,515
Reclassification with investment properties (Note 12)		—			16			—			—			16
Transferred to property, plant and equipment on exercise of purchase option (Note 12)		(2,641	)		—			—			—			(2,641	)
Disposals		(780	)		—			—			—			(780	)

At 31 December 2019		215,381			4,022			2,790			392			222,585

At 1 January 2020		215,381			4,022			2,790			392			222,585
Additions		6,526			45			412			190			7,173
Transfer from construction in progress		5,993			2,440			—			226			8,659
Transferred to property, plant and equipment on exercise of purchase option (Note 12)		(2,780	)		—			—			—			(2,780	)
Disposals
– disposals		(4,419	)		—			(180	)		—			(4,599	)
– disposal of a subsidiary		—			(26	)		—			(43	)		(69	)

At 31 December 2020		220,701			6,481			3,022			765			230,969


	Aircraft and engines RMB million			Land use rights RMB million		Buildings RMB million			Others RMB million			Total RMB million
Accumulated amortisation:
At 1 January 2019		55,048			701		—			—			55,749
Amortisation charge for the year		14,485			107		637			34			15,263
Reclassification with investment properties (Note 12)		—			5		—			—			5
Transferred to property, plant and equipment on exercise of purchase option (Note 12)		(874	)		—		—			—			(874	)
Disposals		(769	)		—		—			—			(769	)
At 31 December 2019		67,890			813		637			34			69,374

At 1 January 2020		67,890			813		637			34			69,374

Amortisation charge for the year		14,167			134		997			90			15,388
Transferred to property, plant and equipment on exercise of purchase option (Note 12)		(982	)		—		—			—			(982	)
Disposals
– disposals		(4,419	)		—		(132	)		—			(4,551	)
– disposal of a subsidiary		—			—		—			(7	)		(7	)
Provision for impairment losses (Note 12(a))		682			—		—			—			682

At 31 December 2020		77,338			947		1,502			117			79,904

Net book value:
At 31 December 2020		143,363			5,534		1,520			648			151,065

At 31 December 2019		147,491			3,209		2,153			358			153,211


	31 December		31 December
	2020 *RMB million*		2019 RMB million
Assets
Current assets:
Cash at bank and on hand		25,823		1,994
Derivative financial assets		—		218
Bills receivable		12		1
Accounts receivable		2,544		3,197
Prepayments		732		1,591
Other receivables		1,955		2,358
Inventories		1,760		1,893
Other current assets		6,159		5,486

Total current assets		38,985		16,738

Non-current assets
Long-term equity investments		5,673		6,445
Other equity instrument investments		799		1,049
Other non-current financial assets		92		106
Investment properties		312		304
Fixed assets		85,754		84,374
Construction in progress		32,438		39,344
Right-of-use assets		145,540		149,941
Intangible assets		6,155		3,709
Aircraft lease deposits		362		457
Long-term deferred expenses		887		652
Hedging instrument		—		3
Deferred tax assets		7,749		2,697
Other non-current assets		1,369		827

Total non-current assets		287,130		289,908

Total assets		326,115		306,646


	(Loss)/profit attributable to equity shareholders of the Company						Equity attributable to equity shareholders of the Company
	2020			2019			31 December 2020			31 December 2019
	*RMB million*			RMB million			*RMB million*			RMB million
Amounts under PRC GAAP		(10,842	)		2,651			69,346			63,863
Adjustments:
Capitalisation of exchange difference of specific loans		(9	)		(16	)		47			56
Government grants		—			1			(6	)		(6	)
Adjustment arising from the Company’s business combination under common control		—			—			237			237
Income tax effect of the above adjustments		2			4			(10	)		(12	)
Effect of the above adjustments on non-controlling interests		2			—			(30	)		(32	)

Amounts under IFRSs		(10,847	)		2,640			69,584			64,106


	For the year ended 31 December				Increase/ (decrease) (%)
	2020		2019		Increase/ (decrease) (%)
Traffic
Revenue passenger kilometers (RPK) (million)
Domestic		140,135.20		195,239.18		(28.22	)
Hong Kong, Macau and Taiwan		239.14		3,258.71		(92.66	)
International		13,065.78		86,422.92		(84.88	)

Total:		153,440.11		284,920.82		(46.15	)

Revenue tonne kilometers (RTK) (million)
Domestic		13,720.92		18,897.97		(27.39	)
Hong Kong, Macau and Taiwan		30.19		312.80		(90.35	)
International		7,053.76		13,414.05		(47.42	)

Total:		20,804.88		32,624.82		(36.23	)

RTK – passenger (million)
Domestic		12,390.86		17,182.13		(27.89	)
Hong Kong, Macau and Taiwan		20.91		286.62		(92.71	)
International		1,138.30		7,573.52		(84.97	)

Total:		13,550.07		25,042.27		(45.89	)

RTK – cargo (million)
Domestic		1,330.06		1,715.84		(22.48	)
Hong Kong, Macau and Taiwan		9.29		26.18		(64.54	)
International		5,915.47		5,840.53		1.28

Total:		7,254.81		7,582.55		(4.32	)

Passengers carried (thousand)
Domestic		93,911.34		128,706.50		(27.03	)
Hong Kong, Macau and Taiwan		213.22		2,480.54		(91.40	)
International		2,731.48		20,445.12		(86.64	)

Total:		96,856.04		151,632.16		(36.12	)

Cargo and mail carried (thousand tonnes)
Domestic		817.51		1,052.13		(22.30	)
Hong Kong, Macau and Taiwan		9.12		23.27		(60.80	)
International		634.19		688.16		(7.84	)

Total:		1,460.83		1,763.57		(17.17	)


			Increase/ (decrease) percentage points
Load factor
Passenger load factor (RPK/ASK) (%)
Domestic	72.26	83.00		(10.74	)
Hong Kong, Macau and Taiwan	43.41	74.61		(31.20	)
International	64.57	82.72		(18.15	)

Average:	71.46	82.81		(11.35	)

Overall load factor (RTK/ATK) (%)
Domestic	61.85	70.50		(8.65	)
Hong Kong, Macau and Taiwan	42.70	61.73		(19.03	)
International	60.61	70.15		(9.54	)

Average:	61.39	70.26		(8.88	)


	2020					2019
	Operating revenue			Percentage		Operating revenue			Percentage		Changes in revenue
	*RMB million*			%		RMB million			%		%
Traffic revenue		87,027			94.02		148,117			95.98		(41.24	)
Including: Passenger revenue		70,534					138,502					(49.07	)
– Domestic		57,793					101,955					(43.32	)
– Hong Kong, Macau and Taiwan		251					2,437					(89.70	)
– International		12,490					34,110					(63.38	)
Cargo and mail revenue		16,493					9,615					71.53
Other operating revenue		5,534			5.98		6,205			4.02		(10.81	)
Mainly including:
Commission income		2,771					2,952					(6.13	)
Ground services income		210					409					(48.66	)
General aviation income		508					564					(9.93	)
Hotel and tour operation income		390					712					(45.22	)

Total operating revenue		92,561			100.00		154,322			100.00		(40.02	)

Less: fuel surcharge income		(1,259	)				(7,479	)				(83.17	)

Total operating revenue excluding fuel surcharge		91,302					146,843					(37.82	)


	31 December 2020			31 December 2019			Change
Total liabilities (RMB million)		241,252			229,599			5.08	%
Total assets (RMB million)		326,383			306,928			6.34	%
Debt ratio		73.92	%		74.81	%		Decreased by 0.89 percentage point


	31 December 2020 *RMB million*		31 December 2019 RMB million
Authorised and contracted for:
Share of capital commitments of a joint venture		405		322
Capital contributions for acquisition of non-controlling interests in a subsidiary		—		232

		405		554

Authorised but not contracted for:
Share of capital commitments of a joint venture		26		31

		431		585


									Unit: Share
	31 December 2019				Increase/ (decrease) in 2020		31 December 2020
	Number of Shares		Percentage (%)		Number of Shares		Number of Shares		Percentage (%)
I. Shares subject to restrictions on sales
1. RMB ordinary shares		489,202,658		3.99		2,453,434,457		2,942,637,115		19.20
2. Foreign listed shares		600,925,925		4.90		608,695,652		1,209,621,577		7.89

Total		1,090,128,583		8.89		3,062,130,109		4,152,258,692		27.09


II. Shares not subject to restrictions on sales
1. RMB ordinary shares		8,111,520,431		66.12		0		8,111,520,431		52.91
2. Foreign listed shares		3,065,523,272		24.99		0		3,065,523,272		20.00

Total		11,177,043,703		91.11		0		11,177,043,703		72.91

III. Total number of shares		12,267,172,286		100.00		3,062,130,109		15,329,302,395		100.000


Opening			1

1 About this Report			1

2 Letter from the Chairman			2

3 About Us			7

3.1 Overview			7

3.2 Party Building			9

3.3 Development Strategy			10

3.4 Corporate Governance			11

3.5 Management of Investor Relationship			13

4 Social Responsibility Management			13

4.1 Background of Sustainable Development			13

4.2 CSR Governance			15

4.3 Analysis of Material Aspects			16

4.4 Communications with the Stakeholders			19

5 Value Creation in the 13th Five-Year Plan			21

6 Focus on 2020			23

6.1 Practice the Mission and Win the Battle of Pandemic Prevention and Control			23

6.2 The North and the South Echo and Fly Together to Serve the Country			36

6.3 Get Rid of Poverty and Strive for a better off life			46

6.4 Green Flight, Implement the Green Development Strategy			58

Main Report			63

1 Safe and Happy - Guarding the Journey at Ease			63

1.1 Safety Management			63

1.2 Aviation Safety			67

1.3 Passenger Safety			73

1.4 Occupational Health and Safety			74

2 Green Environmental Protection, Starting a Low Carbon Journey			77

2.1 Environmental Management			77


2.2 Response to Climate Change			79

2.3 Green Operation			82

2.4 Advocate Green Environmental Protection			85

3 Affinity and Refinement - Creating a Warm Journey Together			88

3.1 Passenger Services			88

3.2 Freight Services			100

3.3 Customer Relationship			102

4 Efficient and First-class, Creating a Value Journey			106

4.1 Compliance and sSable Speration			109

4.2 Innovation, Reform and Development			133

4.3 Supplier Management			116

4.4 Strengthen Exchanges and Cooperation			120

5. Side by Side, Sharing a Harmonious Journey			122

5.1 Help Employees Grow			122

5.2 Contribute to a Harmonious Society			128

Appendix to Report			134

1 Looking into the Future			134

2 Appendix 1: List of Policies and Regulations			136

3 Appendix 2: Performance Data			139

4 Appendix 3: Indicator Index			143

5 Appendix 4: Third-Party Authentication			149

6 Appendix 5: Feedback Form			149

7 Appendix 6: Compilers List			150


Types of the aircraft	2020
Passenger Aircraft
A380 series		5
A350 series		8
A330 series		45
A320 series		325
B787 series		37
B777 series		15
B737 series		401
EMB190 series		9
ARJ21 series		6
Cargo aircraft
B777 series		14
B747 series		2

Total		867


No.	Material Aspects	Key Area	Supporting SDGs
1	Ensuring safe flight operations	Safety
2	Passenger health and safety
3	Employee occupational health and safety

4	Responding to climate change	Environment
5	Waste disposal
6	Sustainable use of resources

7	Reducing the rate of flight delays	Service
8	Protecting passenger privacy
9	Convenient business processing
10	Creating a positive passenger air travel experience
11	Passenger satisfaction

12	Employee training and education	Employee
13	Diversity and equal opportunities
14	Employee compensation and benefits