中国国际航空股份有限公司二零二五年度报告
Air China LimitedAir China AIR CHINA 2004121500753AIRC2006818601111 3467810263253849095969799100102197198199 www.airchina.com.cn Air China Limited 1 Patrick Healy**** 30119 101 H 125 1831717121716 2025 2025 301 3,6763.24%40%4.92% 2025 +2025188.1 C919’ 2026 202512743235C9099C919C929 (1)EBITDA (2)EBITDAREBITDA (3)EBITDAEBITDAR (4)EBITDA35.425.6955.533.2819.2234.26307.18EBITDAREBITDA7.657.24 20254525A32012B7376C9192C909114A3301B7475A3201 96410.365339.85378 業務概覽 2025 C919 2025 301C919 202547.86 2025 IP 2025 13 2025114 2025A32063239 2025 2025 3,676.413.24%16,059.653.40%1,714.8547.8617.88 3941312019 1273492020252 2024-2025A 50E 2025481820251220252025A3,044,140,03020018 2024202520242025 2025 20251,640.87.71,017.210.5%5.5%13.3%201990%21.6%5 20261,7508.11,070 2025CATA+’ ·240 202526 2025760 13160 2025 20253+7+N 202513139446203683132743220198 313,76410,78853.59%7,887157.17.3%18.7%0.8 1.53.71% 2.20258 2812020.82202512 1851.00%20258 28202512 18 3.20253 2874.94% 4.20261 6Easerich Investments Inc.1.61%108,080,00020261620261 820262 24643,076,18120263 261,822,436,3346,081,128,03829.97% 5. 2025 2026 2. 142026 1. 3. 1,714.8547.862.87%1,626.3434.312.16%88.5113.5518.08% 1,548.5630.6749.1839.7858.292025 77.783.641.793.191.342025 1,771.431,718.013.11% •36.79•10.52•16.15•19.65•27.79•3.40•2.22•9.98 5.690.489.12%55.538.4613.22%3.287.60 34.266.0629.984.99 3,430.10202412310.79%348.0310.15%3,082.0789.85% 20 142.9541.07%2024123132.05% 2,490.3280.80%202412313.33% 157.88202412317.89%153.53 2025123145.392024123138.260.23202412310.2315.64202412 3114.28 26.45202412319.12% 3,038.16202412310.33%1,172.9238.61%1,865.2461.39% 2025237.54163.1048.3026.14 662.602024123127.99%1,620.602024123112.56% 35 824.8920241231144.340.3020241231 20251231 363.74202483.90150.82202427.81279.802024239.84 202512311,089.1720241231951.7514.44%202512312.37202412 313.13 88.57%202412310.41 43 2. 1. 5%25.02 1%202512311.4020251231 43 C1 1.20252252025Patrick Healy 2.202510 102025 (1)(2)(3)(4)(5)(6)(7) (1)(2)(3)(4)(5) 1.2.3. 4.5.6. • •111114420222 25 • C.1.4 a. b. 202522520252133.09D 2025101020251093.09D 20059520073192009124202512C32025624C3 3.13 (1)(2)(3)(4)(5)(6)(7) 2025 20248303.213.27A 2024113020252283.213.27A2024830202412272025225 (1)(2)(3)(4)(5)(6)(7) 1%1% (1)(2)(3)(4)(5)(6)(7) 2025 202510 3020242021-2024 1. 2.20252024 13 (1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11) (1)(2)(3)(4) (1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11) ORACLE • • (1)(2)(3)(4) 2025 20251 120257312025812025731202581 15 2025 2025630202512311,014.9020251231670.43481007.5 2025528202562420255282025624 575890 2025 59 132025320242025202420252650E 30101312ir@airchina.com86-10-61462799 202512 31 2025ESG 20251231 17,448,421,00017,448,421,0001.00 336 1.100%1,332,482,920A616,779,308H 2.100%64.45%70.97%43.09%2,633,725,455H 336 1H166,852,000 2[2009]94200963127,445,53636,454,464 173(1)(2)(3) 15% 173174175 2025 2008112008116H[2008]897H200810% H 1994513[1994]020H 20141031[2014]812016115[2016]127 H20%HH H 20252025 202652820265222026528HH2026521H183171712-17162026521H D2 A 202412 10854,700,854A854,700,8547.02A5,995,841,631.45A7.01512024121220231222A7.17AA 20256242025624 1.20252 252025PatrickHealy 2.202510 103.202510 1020254.202510 235.202511 76.20263 57.20263 520263 252026 2025624 XV352 2025624 Patrick Healy 8.10 20251231 2025 107,79566,44741,34861.6%38.4%48,67559,120 20254,4004 49.16169,638.580,097.52025268305 20262023-2027 9 212223 35 2025123118 1842 2025123112 4,298.17 28.64%41.20%5% 30% 2025 1,50131%15.8850.03GPUAPU16.852.910043%91%3 14A 30% 20257 292Trent7001GTCP331-350APU15,144.056014A14A2025729 202510 30AA6.573,044,140,030A200.0050.00150.00A14A20251216AA20251030202512 1620261 820262 920263920251128 2025 14A.56 (1)(2)(3)(4) 14A.56300074014A.5678 458A330-2008A330-20014A 25SCP00425SCP00525SCP00625SCP00725CP00124MTN00124MTN00224MTN00325MTN00125MTN00225MTN00325MTN00425MTN00525MTN00625MTN00725MTN00825MTN00925MTN01025MTN011 •20172024 20253 272025202520256 2420253272025624 2025 59198362025820259202510202512 601988720104202152016122021420214202292021520215202292022112025122021720251020217202292022920258202292025920229202510 5519937202372026120241202612026220263 601988720112201122023320204202042023120206202232025220231202612023220262202332026320237 56199272019620246202462024720248 Patrick Healy602013120141220191020191120191220218 60198882022112025920221120251020233 2025 6820135202132021720241220218202282025220254 64201842021320222 64200620222 59201482022220222202411202411202522025420261 61201612201912019120258 5319927202052020520206 522019720222202222022320233202311202542024120244 591988720179202042020120221120204Ameco20224202252022820229 2025 601987201412202132021320237202332024122023720238 571992720181220219202192022620226202412024120243202452024620258 55199282026120263 6020168202510201782025112020320229202482022