Beijing Capital Airport Losses Since Start Of Pandemic Hit $735 Million

Beijing Capital International Airport, the operator of one of China’s main international airports, said on Friday its loss in the first quarter of 2022 widened to 578.3 million yuan, or about $90 million, from 471.9 million yuan a year earlier amid fallout from the Covid-19 pandemic.

The first-quarter loss, disclosed in a stock filing, added to red ink accumulated since the start of the pandemic in 2020. The company lost 2.1 billion yuan last year, an increase of 4% from 2.03 billion yuan loss in 2020. Since 2020, the Hong Kong-listed business has lost a total of nearly 4.7 billion yuan, or approximately $735 million; it’s shares have lost approximately 40% of their value. The company last turned a full-year profit of 2.1 billon yuan in 2019, the year before the global pandemic started.

Operating income in the first quarter of 2022 shrank to 658 million yuan from 778 million yuan a year earlier, the airport said. Airlines with service at Beijing Capital International Include Air China, Air France, Air Canada, China Eastern, Lufthansa and United.

Mainland China on Friday had 1,410 new locally transmitted confirmed Covid-19 cases, of which 1,249 were in Shanghai, the Xinhua News Agency reported, citing the National Health Commission. Another 9,293 local asymptomatic carriers were newly identified, the agency said.

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