Cover
Cover | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Trading Symbol | ZNH |
Entity Registrant Name | CHINA SOUTHERN AIRLINES COMPANY LIMITED |
Entity Central Index Key | 0001041668 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Document Accounting Standard | International Financial Reporting Standards |
Document Annual Report | true |
Entity Address, Country | CN |
Document Transition Report | false |
Document Shell Company Report | false |
Document Registration Statement | false |
Title of 12(b) Security | Ordinary H Shares of par value RMB1.00 per share represented by American Depositary Shares |
Security Exchange Name | NYSE |
Entity Incorporation, State or Country Code | F4 |
ICFR Auditor Attestation Flag | true |
Entity Address, Address Line One | 68 QI XIN ROAD |
Entity Address, City or Town | GUANGZHOU |
Entity File Number | 001-14660 |
Entity Address, Postal Zip Code | 510403 |
Auditor Name | KPMG Huazhen LLP |
Auditor Firm ID | 1186 |
Auditor Location | Guangzhou, China |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Country | CN |
Contact Personnel Name | Mr. Xie Bing |
Contact Personnel Email Address | ir@csair.com |
Contact Personnel Fax Number | 86 20 86659040 |
Entity Address, Address Line One | 68 QI XIN ROAD |
Entity Address, City or Town | GUANGZHOU |
City Area Code | 86 20 |
Local Phone Number | 86112480 |
Entity Address, Postal Zip Code | 510403 |
A Shares (par value RMB1.00 per share) [member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 12,673,293,179 |
H Shares (par value RMB1.00 per share) [member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 4,275,144,849 |
CONSOLIDATED INCOME STATEMENTS
CONSOLIDATED INCOME STATEMENTS - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating revenue | |||
Traffic revenue | ¥ 95,279 | ¥ 87,027 | ¥ 148,117 |
Other operating revenue | 6,365 | 5,534 | 6,205 |
Total operating revenue | 101,644 | 92,561 | 154,322 |
Operating expenses | |||
Flight operation expenses | 45,569 | 37,545 | 70,566 |
Maintenance expenses | 12,162 | 13,375 | 13,057 |
Aircraft and transportation service expenses | 21,147 | 18,743 | 26,591 |
Promotion and selling expenses | 4,705 | 5,007 | 7,755 |
General and administrative expenses | 3,663 | 4,088 | 4,073 |
Depreciation and amortization | 24,241 | 24,590 | 24,620 |
Impairment losses on property, plant and equipment, right-of-use assets and other assets | 2,597 | 3,961 | 18 |
Others | 2,256 | 1,802 | 1,928 |
Total operating expenses | 116,340 | 109,111 | 148,608 |
Other net income | 4,767 | 4,686 | 5,124 |
Operating (loss)/ profit | (9,929) | (11,864) | 10,838 |
Interest income | 675 | 322 | 74 |
Interest expense | (6,202) | (6,716) | (5,845) |
Exchange gain/(loss), net | 1,575 | 3,485 | (1,477) |
Share of associates' results | 9 | (776) | (178) |
Share of joint ventures' results | 271 | 309 | 365 |
Loss on disposal of a subsidiary | 0 | (8) | |
Changes in fair value of financial assets / liabilities | (309) | 53 | 265 |
Remeasurement of the originally held equity interests in a joint venture | 0 | 0 | 13 |
(Loss)/profit before income tax | (13,910) | (15,195) | 4,055 |
Income tax | 2,894 | 3,368 | (971) |
(Loss)/Profit for the year | (11,016) | (11,827) | 3,084 |
(Loss)/profit attributable to: | |||
Equity shareholders of the Company | (12,106) | (10,847) | 2,640 |
Non-controlling interests | 1,090 | (980) | 444 |
(Loss)/Profit for the year | ¥ (11,016) | ¥ (11,827) | ¥ 3,084 |
(Loss)/earnings per share | |||
Basic and diluted | ¥ (0.75) | ¥ (0.77) | ¥ 0.22 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of comprehensive income [abstract] | |||
(Loss)/Profit for the year | ¥ (11,016) | ¥ (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) | (236) | (250) | (31) |
Share of other comprehensive income of an associate | (2) | (2) | 3 |
Income tax effect of the above items | 60 | 63 | 7 |
Items that may be reclassified subsequently to profit or loss | |||
Cash flow hedge: fair value movement of derivative financial instrument | 42 | (45) | (72) |
Differences resulting from the translation of foreign currency financial statements | 8 | (7) | |
Share of other comprehensive income of an associate | 3 | (3) | |
Income tax effect of the above items | (10) | 11 | 17 |
Other comprehensive income for the year | (143) | (218) | (83) |
Total comprehensive income for the year | (11,159) | (12,045) | 3,001 |
Total comprehensive income attributable to: | |||
Equity shareholders of the Company | (12,189) | (11,011) | 2,552 |
Non-controlling interests | 1,030 | (1,034) | 449 |
Total comprehensive income for the year | ¥ (11,159) | ¥ (12,045) | ¥ 3,001 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Non-current assets | ||
Property, plant and equipment, net | ¥ 91,186 | ¥ 86,146 |
Construction in progress | 31,847 | 32,407 |
Right-of-use assets | 138,439 | 151,065 |
Goodwill | 237 | 237 |
Interest in associates | 2,637 | 2,449 |
Interest in joint ventures | 3,341 | 3,225 |
Aircraft lease deposits | 321 | 362 |
Other equity instrument investments | 563 | 799 |
Other non-current financial assets | 589 | 92 |
Amounts due from related companies | 151 | |
Deferred tax assets | 12,823 | 7,739 |
Other assets | 3,211 | 2,877 |
Total non-current assets | 285,345 | 287,398 |
Current assets | ||
Inventories | 1,652 | 1,760 |
Trade receivables | 2,858 | 2,525 |
Other receivables | 9,599 | 8,347 |
Cash and cash equivalents | 21,456 | 25,419 |
Assets held for sale | 1,292 | |
Restricted bank deposits | 158 | 117 |
Prepaid expenses and other current assets | 736 | 732 |
Amounts due from related companies | 115 | 85 |
Total current assets | 37,866 | 38,985 |
Current liabilities | ||
Derivative financial liabilities | 1,222 | 3,148 |
Borrowings | 57,913 | 40,099 |
Lease liabilities | 20,805 | 20,930 |
Trade payables | 1,328 | 1,782 |
Contract liabilities | 1,542 | 1,513 |
Sales in advance of carriage | 3,716 | 3,997 |
Current income tax | 844 | 462 |
Amounts due to related companies | 363 | 357 |
Accrued expenses | 15,479 | 15,920 |
Other liabilities | 7,778 | 7,473 |
Total current liabilities | 110,990 | 95,681 |
Non-current liabilities | ||
Borrowings | 38,354 | 38,134 |
Lease liabilities | 81,944 | 100,283 |
Derivative financial liabilities | 20 | 53 |
Other non-current liabilities | 1,824 | 2,036 |
Provision for major overhauls | 4,820 | 4,216 |
Deferred benefits and gains | 725 | 769 |
Deferred tax liabilities | 26 | 80 |
Total non-current liabilities | 127,713 | 145,571 |
Net assets | 84,508 | 85,131 |
Capital and reserves | ||
Share capital | 16,948 | 15,329 |
Reserves | 50,903 | 54,255 |
Total equity attributable to equity shareholders of the Company | 67,851 | 69,584 |
Non-controlling interests | 16,657 | 15,547 |
Total equity | ¥ 84,508 | ¥ 85,131 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - CNY (¥) ¥ in Millions | Total | Fair value reserve (recycling) [member] | Fair value reserve (non-recycling) [member] | Share capital [Member] | Share premium [member] | Other reserves [member] | Retained earnings [member] | Total attributable to equity shareholders of the Company [Member] | Non-controlling interests [member] |
Beginning balance at Dec. 31, 2018 | ¥ 75,007 | ¥ 57 | ¥ 436 | ¥ 12,267 | ¥ 25,652 | ¥ 2,635 | ¥ 21,086 | ¥ 62,133 | ¥ 12,874 |
Changes in equity | |||||||||
Profit (Loss) for the year | 3,084 | 2,640 | 2,640 | 444 | |||||
Other comprehensive income | (83) | (55) | (27) | (6) | (88) | 5 | |||
Total comprehensive income for the year | 3,001 | (55) | (27) | (6) | 2,640 | 2,552 | 449 | ||
Appropriations to reserves | 181 | (181) | |||||||
Dividends relating to the prior year | (613) | (613) | (613) | ||||||
Distributions to non-controlling interests | (86) | (86) | |||||||
Acquisition of non-controlling interests in a subsidiary | (24) | (10) | (10) | (14) | |||||
Changes in other reserves | 44 | 44 | 44 | ||||||
Ending balance at Dec. 31, 2019 | 77,329 | 2 | 409 | 12,267 | 25,652 | 2,844 | 22,932 | 64,106 | 13,223 |
Changes in equity | |||||||||
Profit (Loss) for the year | (11,827) | (10,847) | (10,847) | (980) | |||||
Other comprehensive income | (218) | (37) | (135) | 8 | (164) | (54) | |||
Total comprehensive income for the year | (12,045) | (37) | (135) | 8 | (10,847) | (11,011) | (1,034) | ||
Issuance of shares | 15,951 | 3,062 | 12,889 | 15,951 | |||||
Distributions to non-controlling interests | (57) | (57) | |||||||
Acquisition of non-controlling interests in a subsidiary | (260) | (155) | (155) | (105) | |||||
Capital injection from non-controlling interests | 4,221 | 700 | 700 | 3,521 | |||||
Decrease in non-controlling interests as a result of loss of control of a subsidiary | (1) | (1) | |||||||
Changes in other reserves | (7) | (7) | (7) | ||||||
Ending balance at Dec. 31, 2020 | 85,131 | (35) | 274 | 15,329 | 38,541 | 3,390 | 12,085 | 69,584 | 15,547 |
Changes in equity | |||||||||
Profit (Loss) for the year | (11,016) | (12,106) | (12,106) | 1,090 | |||||
Other comprehensive income | (143) | 35 | (118) | (83) | (60) | ||||
Total comprehensive income for the year | (11,159) | 35 | (118) | (12,106) | (12,189) | 1,030 | |||
Distributions to non-controlling interests | (659) | (659) | |||||||
Conversion of convertible bonds to ordinary shares | 10,456 | 1,619 | 8,837 | 10,456 | |||||
Capital injection from non-controlling interests | 810 | 810 | |||||||
Decrease in non-controlling interests as a result of loss of control of a subsidiary | (71) | (71) | |||||||
Ending balance at Dec. 31, 2021 | ¥ 84,508 | ¥ 0 | ¥ 156 | ¥ 16,948 | ¥ 47,378 | ¥ 3,390 | ¥ (21) | ¥ 67,851 | ¥ 16,657 |
CONSOLIDATED CASH FLOW STATEMEN
CONSOLIDATED CASH FLOW STATEMENTS - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating activities | |||
Cash generated from operating activities | ¥ 15,277 | ¥ 10,727 | ¥ 39,728 |
Interest received | 671 | 295 | 67 |
Interest paid | (6,354) | (6,646) | (7,014) |
Income tax paid | (1,906) | (1,678) | (1,606) |
Net cash generated from operating activities | 7,688 | 2,698 | 31,175 |
Investing activities | |||
Acquisition of subsidiaries, net of cash acquired | 176 | ||
Proceeds from disposal of property, plant and equipment and right-of-use assets | 990 | 2,848 | 814 |
Proceeds from disposal of other financial assets | 492 | ||
Proceeds from disposal of derivative financial instruments | 51 | ||
Acquisition of other financial assets | (50) | ||
Dividends received from associates | 26 | 91 | 84 |
Dividends received from joint ventures | 237 | 246 | 177 |
Dividends received from other investments in equity and other non-current financial assets | 7 | 20 | 22 |
Acquisition of term deposits | (60) | (898) | (43) |
Proceeds from maturity of term deposits | 120 | 654 | 264 |
Acquisition of property, plant and equipment and other assets | (17,137) | (11,061) | (15,622) |
Capital injection into an associates | (500) | ||
Acquisition of an associate | (3) | (386) | |
Net refunds of aircraft lease deposits | 145 | ||
Net cash used in investing activities | (15,820) | (8,049) | (14,427) |
Financing activities | |||
Dividends paid to equity shareholders of the Company | (613) | ||
Proceeds from issuance of shares | 15,951 | ||
Proceeds from bank borrowings | 76,910 | 71,841 | 33,985 |
Proceeds from corporate bonds | 9,000 | 25,000 | 7,497 |
Proceeds from ultra-short-term financing bills | 82,500 | 48,300 | 43,489 |
Repayment of bank borrowings | (70,437) | (52,601) | (50,374) |
Repayment of ultra-short-term financing bills | (68,900) | (59,800) | (25,000) |
Repayment of corporate bonds | (3,749) | (2,655) | (12,951) |
Capital element of lease rentals paid | (21,613) | (20,670) | (17,784) |
Capital injections from non-controlling interests | 1,128 | 3,802 | |
Payment for purchase of non-controlling interest | (260) | ||
Refund of aircraft lease deposits | 49 | 69 | |
Payments for aircraft lease deposits | (15) | ||
Dividends paid to non-controlling interests | (687) | (32) | (82) |
Net cash generated from / (used in) financing activities | 4,186 | 28,945 | (21,833) |
Net (decrease) / increase in cash and cash equivalents | (3,946) | 23,594 | (5,085) |
Cash and cash equivalents at January 1 | 25,419 | 1,849 | 6,928 |
Exchange (loss)/gain on cash and cash equivalents | (17) | (24) | 6 |
Cash and cash equivalents at December 31 | ¥ 21,456 | ¥ 25,419 | ¥ 1,849 |
Corporate information
Corporate information | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Corporate information | 1 Corporate information China Southern Airlines Company Limited (the “Company”), a joint stock limited company, was incorporated in the People’s Republic of China (the “PRC”) on March 25, 1995. The address of the Company’s registered office is Unit 301, 3/F, Office Tower, Guanhao Science Park Phase I, 12 Yuyan Street, Huangpu District, Guangzhou, Guangdong Province, the PRC. The Company and its subsidiaries (the “Group”) are principally engaged in the operation of civil aviation, including the provision of passenger, cargo, mail delivery and other extended transportation services. The Company’s majority interest is owned by China Southern Air Holding Company Limited (“CSAH”), a state-owned enterprise incorporated in the PRC. The Company’s shares are traded on the Shanghai Stock Exchange, The Stock Exchange of Hong Kong Limited and the New York Stock Exchange. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Significant accounting policies | 2 Significant accounting policies The consolidated financial statements have been prepared in accordance with all applicable International Financial Reporting Standards (“IFRSs”), which collective term includes all applicable individual IFRSs, International Accounting Standards (“IASs”) and Interpretations issued by the International Accounting Standards Board (the “IASB”). Significant accounting policies adopted by the Group are disclosed below. The IASB has issued certain amendments to IFRSs that are first effective or available for early adoption for the current accounting period of the Group. Note 2(b) provides information on any changes in accounting policies resulting from initial application of these developments to the extent that they are relevant to the Group for the current accounting period reflected in these consolidated financial statements. (a) Basis of preparation The consolidated financial statements comprise the Group and the Group’s interest in associates and joint ventures. The measurement basis used in the preparation of the consolidated financial statements is the historical cost basis except that the following assets and liabilities are stated at their fair value as explained in the accounting policies set out below: • other equity instrument investments (see Note 2(f)); • other non-current • derivative financial assets / liabilities (see Note 2(g)). Non-current The preparation of financial statements in conformity with IFRSs requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Judgements made by management in the application of IFRSs that have significant effect on the financial statements and major sources of estimation uncertainty are discussed in Note 3. (b) Changes in accounting policies (A) Amendments to IFRSs that are first effective for the year ended December 31, 2021 The Group has applied the following amendments to IFRSs issued by the IASB to these financial statements for the current accounting period: • Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, Interest rate benchmark reform — phase 2 • Amendment to IFRS 16, Covid-19-related Other than the amendment to IFRS 16, the Group has not applied any new standard or interpretation that is not yet effective for the current accounting period. Impacts of the adoption of the amended IFRSs are discussed below: Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, Interest rate benchmark reform — phase 2 The amendments provide targeted reliefs from (i) accounting for changes in the basis for determining contractual cash flows of financial assets, financial liabilities and lease liabilities as modifications, and (ii) discontinuing hedge accounting when an interest rate benchmark is replaced by an alternative benchmark rate as a result of the reform of interbank offered rates (“IBOR reform”). The adoption of the amendments does not have any material impact on the financial position and the financial result of the Group. Amendment to IFRS 16, Covid-19-related 30, 2021 The Group previously applied the practical expedient in IFRS 16 to all leases except for aircraft and engine leases such that as lessee it was not required to assess whether rent concessions occurring as a direct consequence of the COVID-19 The Group has early adopted the 2021 amendment in this financial year. The adoption of 2021 amendment does not have any material impact on the financial position and the financial result of the Group. (B) Amendments to IFRSs that are first effective for the year ended December 31, 2020 The Group has applied the following amendments to IFRSs issued by the IASB to these financial statements for the current accounting period: • Amendments to IFRS 3, Definition of a Business • Amendment to IFRS 16, COVID-19-Related Other than the amendment to IFRS 16, the Group has not applied any new standard or interpretation that is not yet effective for the current accounting period. Impacts of the adoption of the amended IFRSs are discussed below: Amendments to IFRS 3, Definition of a Business The amendments clarify the definition of a business and provide further guidance on how to determine whether a transaction represents a business combination. In addition, the amendments introduce an optional “concentration test” that permits a simplified assessment of whether an acquired set of activities and assets is an asset rather than business acquisition, when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The amendments do not have any material impact on the financial position and the financial result of the Group. Amendment to IFRS 16, COVID-19-Related The amendment provides a practical expedient that allows a lessee to by-pass COVID-19 COVID-19-Related The Group has elected to early adopt the amendments and applies the practical expedient to all qualifying COVID-19-Related (c) Subsidiaries and non-controlling Subsidiaries are all entities over which the Group has control. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. When assessing whether the Group has power, only substantive rights (held by the Group and other parties) are considered. An investment in a subsidiary is consolidated into the consolidated financial statements from the date that control commences until the date that control ceases. Intra-group transactions, balances and cash flows and any unrealized profits arising from intra-group transactions are eliminated in full in preparing the consolidated financial statements. Unrealized losses resulting from intra-group transactions are eliminated in the same way as unrealized gains but only to the extent that there is no evidence of impairment. Amounts reported by subsidiaries have been adjusted to conform with the Group’s accounting policies. Non-controlling non-controlling non-controlling Non-controlling Non-controlling non-controlling non-controlling Changes in the Group’s interests in a subsidiary that do not result in a loss of control are accounted for as equity transactions, whereby adjustments are made to the amounts of controlling and non-controlling When the Group loses control of a subsidiary, it is accounted for as a disposal of the entire interest in that subsidiary, with a resulting gain or loss being recognized in consolidated income statement. Any interest retained in that former subsidiary at the date when control is lost is recognized at fair value and this amount is regarded as the fair value on initial recognition of a financial asset (Note 2(f)) or, when appropriate, the cost on initial recognition of an investment in an associate or joint venture (Note 2(d)). The Group applies the acquisition method to account for business combinations. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. Transaction costs are expensed as incurred. The consideration transferred does not include amounts related to the settlement of pre-existing Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not remeasured and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration are recognized in profit or loss. (d) Associates and joint arrangements An associate is an entity in which the Group has significant influence, but not control or joint control, over its management, including participation in the financial and operating policy decisions. The Group has applied IFRS 11, Joint Arrangements An investment in an associate or a joint venture is accounted for in the consolidated financial statements under the equity method and is initially recorded at cost, adjusted for any excess of the Group’s share of the acquisition-date fair values of the investee’s identifiable net assets over the cost of the investment (if any). Thereafter, the investment is adjusted for the post acquisition change in the Group’s share of the investee’s net assets and any impairment loss relating to the investment (Notes 2(e) and 2(l)(iii)). At each reporting date, the Group assesses whether there is any objective evidence that the investment is impaired. The Group’s share of the post-acquisition, post-tax post-tax When the Group’s share of losses exceeds its interest in the associate or the joint venture, the Group’s interest is reduced to nil and recognition of further losses is discontinued except to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the investee. For this purpose, the Group’s interest is the carrying amount of the investment under the equity method together with the Group’s long-term interests that in substance form part of the Group’s net investment in the associate or the joint venture. Unrealized profits and losses resulting from transactions between the Group and its associates and joint ventures are eliminated to the extent of the Group’s interest in the investee, except where unrealized losses provide evidence of an impairment of the asset transferred, in which case they are recognized immediately in the consolidated income statement. (e) Goodwill Goodwill represents the excess of (i) the aggregate of the fair value of the consideration transferred, the amount of any non-controlling (ii) the net fair value of the acquiree’s identifiable assets and liabilities measured as at the acquisition date. When (ii) is greater than (i), then this excess is recognized immediately in the consolidated income statement as a gain on a bargain purchase. Goodwill is stated at cost less accumulated impairment losses. Goodwill arising on a business combination is allocated to each cash-generating unit, or groups of cash generating units, that is expected to benefit from the synergies of the combination and is tested annually for impairment (Note 2(l)(iii)). (f) Other investments in debt and equity securities The Group’s policies for investments in debt and equity securities, other than investments in subsidiaries, associates and joint ventures, are set out below. Investments in debt and equity securities are recognized / derecognized on the date the Group commits to purchase / sell the investment. The investments are initially stated at fair value plus directly attributable transaction costs, except for those investments measured at fair value through profit or loss (FVPL) for which transaction costs are recognized directly in profit or loss. For an explanation of how the Group determines fair value of financial instruments, see Note 4(g)(i). These investments are subsequently accounted for as follows, depending on their classification. (i) Investments other than equity investments Non-equity • amortized cost, if the investment is held for the collection of contractual cash flows which represent solely payments of principal and interest. Interest income from the investment is calculated using the effective interest method (Note 2(z)(v)). • fair value through other comprehensive income (FVOCI) - recycling, if the contractual cash flows of the investment comprise solely payments of principal and interest and the investment is held within a business model whose objective is achieved by both the collection of contractual cash flows and sale. Changes in fair value are recognized in other comprehensive income, except for the recognition in profit or loss of expected credit losses, interest income (calculated using the effective interest method) and foreign exchange gains and losses. When the investment is derecognized, the amount accumulated in other comprehensive income is recycled from equity to profit or loss. • fair value at profit or loss (FVPL) if the investment does not meet the criteria for being measured at amortized cost or FVOCI (recycling). Changes in the fair value of the investment (including interest) are recognized in profit or loss. (ii) Equity investments An investment in equity securities is classified as FVPL unless the equity investment is not held for trading purposes and on initial recognition of the investment the Group makes an irrevocable election to designate the investment at FVOCI (non-recycling) instrument-by-instrument (non-recycling) (non-recycling) (g) Derivative financial instruments Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value. The method of recognizing the resulting gain or loss depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. The Group documents at the inception of the transaction the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedging transactions. The Group also documents its assessment, both at hedge inception and on an ongoing basis, of whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. Derivative financial instruments that do not qualify for hedge accounting are accounted for as trading instruments and any unrealized gains or losses, being changes in fair value of the derivatives, are recognized in the profit or loss immediately. Changes in the fair value of derivatives that are designated and qualify as fair value hedges and that are highly effective, are recorded in the profit or loss, along with any changes in the fair value of the hedged assets or liabilities that are attributable to the hedged risk. Derivative financial instruments that qualify for hedge accounting and which are designated as a specific hedge of the variability in cash flows of a highly probable forecast transaction, are accounted for as follows: (i) The effective portion of any gains or losses on remeasurement of the derivative financial instruments to fair value are recognized in other comprehensive income and accumulated separately in equity in the fair value reserve. The cumulative gain or loss on the derivative financial instruments recognized in other comprehensive income is reclassified from equity to profit or loss in the same period during which the hedged forecast cash flows affects profit or loss; and (ii) The ineffective portion of any gains or losses on remeasurement of the derivative financial instruments to fair value is recognized in the profit or loss immediately. When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gains or losses existing in equity at that time remains in equity and is recognized in the profit or loss when the committed or forecast transaction ultimately occurs. When a committed or forecast transaction is no longer expected to occur, the cumulative gains or losses that was recorded in equity is immediately transferred to the profit or loss. (h) Investment properties Investment properties are land held under a lease and / or buildings which are owned to earn rental income and/or for capital appreciation. Investment properties are stated at cost, less accumulated depreciation and impairment losses (Note 2(l)(iii)). Depreciation is calculated to write off the cost of items of investment properties, less their estimated residual value, if any, using the straight-line method over their estimated useful lives or lease term. Rental income from investment properties is accounted for as described in Note 2(z)(iii). (i) Other property, plant and equipment Other property, plant and equipment are stated at cost less accumulated depreciation and impairment losses (Note 2(l)(iii)). The cost of self-constructed items of property, plant and equipment includes the cost of materials, direct labor, the initial estimate, where relevant, of the costs of dismantling and removing the items and restoring the site on which they are located, and an appropriate proportion of production overheads and borrowing costs (Note 2(ab)). Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance are charged to the consolidated income statement during the financial period in which they are incurred. When each major aircraft overhaul is performed, its cost is recognized in the carrying amount of the component of aircraft and is depreciated over the appropriate maintenance cycles. Components related to airframe overhaul cost, are depreciated on a straight-line basis over 6 to 12 years. Components related to engine overhaul cost, are depreciated on the units of production method over the expected flying hours of 9-42 thousand Except for components related to overhaul costs, the depreciation of other property, plant and equipment is calculated to write off the cost of items, less their estimated residual value, if any, using the straight-line method over their estimated useful lives as follows: Buildings 5 to 35 years Owned aircraft 15 to 20 years Other flight equipment – Jet engines 15 to 20 years – Others, including rotables 3 to 15 years Machinery , equipment and vehicles 4 to 10 years Where parts of an item of property, plant and equipment have different useful lives, the cost of the item is allocated on a reasonable basis between the parts and each part is depreciated separately. Both the useful life of an asset and its residual value, if any, are reviewed annually. Gains or losses arising from the retirement or disposal of an item of property, plant and equipment are determined as the difference between the net disposal proceeds and the carrying amount of the item and are recognized in consolidated income statement on the date of retirement or disposal. (j) Construction in progress Construction in progress represents advance payments for the acquisition of aircraft and flight equipment, office buildings, various infrastructure projects under construction and equipment pending for installation, and is stated at cost less impairment losses (Note 2(l)(iii)). Capitalization of these costs ceases and the construction in progress is transferred to property, plant and equipment when the asset is substantially ready for its intended use, notwithstanding any delay in the issue of the relevant commissioning certificates by the relevant PRC authorities. No depreciation is provided in respect of construction in progress. (k) Leased assets At inception of a contract, the Group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is conveyed where the customer has both the right to direct the use of the identified asset and to obtain substantially all of the economic benefits from that use. (1) As a lessee For a contract that contains more than a lease, a lessee and lessor shall separate the contract and account for each lease component respectively. For a contract that contains lease and non-lease non-lease non-lease non-lease non-lease non-lease At the lease commencement date, the Group recognizes a right-of-use low-value low-value lease-by-lease Where the lease is capitalized, the lease liability is initially recognized at the present value of the lease payments payable over the lease term, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, using a relevant incremental borrowing rate. After initial recognition, the lease liability is measured at amortized cost and interest expense is calculated using the effective interest method. Variable lease payments that do not depend on an index or rate are not included in the measurement of the lease liability and hence are charged to profit or loss in the accounting period in which they are incurred. The right-of-use right-of-use right-of-use For the measurement of component accounting for right-of-use The cost of acquiring land held under a lease is amortized on a straight-line basis over the respective periods of lease terms which range from 30 to 70 years. The lease liability is remeasured when there is a change in future lease payments arising from a change in an index or rate, or there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, or there is a change arising from the reassessment of whether the Group will be reasonably certain to exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use right-of-use The lease liability is also remeasured when there is a change in the scope of a lease or the consideration for a lease that is not originally provided for in the lease contract (“lease modification”) that is not accounted for as a separate lease. In this case the lease liability is remeasured based on the revised lease payments and lease term using a revised discount rate at the effective date of the modification. The only exceptions are rent concessions in relation to all leases except for aircraft and engine leases that occurred as a direct consequence of the COVID-19 In the consolidated statement of financial position, the current portion of long-term lease liabilities is determined as the present value of contractual payments that are due to be settled within twelve months after the reporting period. The Group presents right-of-use right-of-use (2) As a lessor When the Group acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to the ownership of an underlying assets to the lessee. If this is not the case, the lease is classified as an operating lease. When a contract contains lease and non-lease When the Group is an intermediate lessor, the sub-leases right-of-use sub-lease Under a finance lease, at the commencement date, the Group recognizes the finance lease receivable and derecognizes the finance lease asset. The finance lease receivable is initially measured at an amount equal to the net investment in the lease. The net investment in the lease is measured at the aggregate of the unguaranteed residual value and the present value of the lease receivable that are not received at the commencement date, discounted using the interest rate implicit in the lease. The Group recognizes finance income over the lease term, based on a pattern reflecting a constant periodic rate of return. The derecognition and impairment of the finance lease receivable are recognized in accordance with the accounting policy in Note 2(l). Variable lease payments not included in the measurement of net investment in the lease are recognized as income as they are earned. (l) Credit losses and impairment of assets (i) Credit losses from financial instruments and lease receivables The Group recognizes a loss allowance for expected credit losses (ECL) on the following items: • financial assets measured at amortized cost (including cash and cash equivalents and trade and other receivables); and • lease receivables. Financial assets measured at fair value, including equity securities measured at FVPL, equity securities designated at FVOCI (non-recycling) Measurement of ECLs ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all expected cash shortfalls (i.e. the difference between the cash flows due to the Group in accordance with the contract and the cash flows that the Group expects to receive). The expected cash shortfalls are discounted using the following discount rates where the effect of discounting is material: • fixed-rate financial assets, and trade and other receivables: effective interest rate determined at initial recognition or an approximation thereof; • variable-rate financial assets: current effective interest rate; • lease receivables: discount rate used in the measurement of the lease receivable. The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. In measuring ECLs, the Group takes into account reasonable and supportable information that is available without undue cost or effort. This includes information about past events, current conditions and forecasts of future economic conditions. ECLs are measured on either of the following bases: • 12-month • lifetime ECLs: these are losses that are expected to result from all possible default events over the expected lives of the items to which the ECL model applies. Loss allowances for trade receivables and lease receivables are always measured at an amount equal to lifetime ECLs. ECLs on these financial assets are estimated using a provision matrix based on the Group’s historical credit loss experience, adjusted for factors that are specific to the debtors and an assessment of both the current and forecast general economic conditions at the reporting date. For all other financial instruments, the Group recognizes a loss allowance equal to 12-month Significant increases in credit risk In assessing whether the credit risk of a financial instrument has increased significantly since initial recognition, the Group compares the risk of default occurring on the financial instrument assessed at the reporting date with that assessed at the date of initial recognition. In making this reassessment, the Group considers that a default event occurs when the borrower is unlikely to pay its credit obligations to the Group in full, without recourse by the Group to actions such as realizing security (if any is held). The Group considers both quantitative and qualitative information that is reasonable and supportable, including historical experience and forward-looking information that is available without undue cost or effort. In particular, the following information is taken into account when assessing whether credit risk has increased significantly since initial recognition: • failure to make payments of principal or interest on their contractually due dates ; • an actual or expected significant deterioration in a financial instrument’s external or internal credit rating (if available); • an actual or expected significant deterioration in the operating results of the debtor; and • existing or forecast changes in the technological, market, economic or legal environment that have a significant adverse effect on the debtor’s ability to meet its obligation to the Group. Depending on the nature of the financial instruments, the assessment of a significant increase in credit risk is performed on either an individual basis or a collective basis. When the assessment is performed on a collective basis, the financial instruments are grouped based on shared credit risk characteristics, such as past due status and credit risk ratings. The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 30 days past due, unless the Group has reasonable and supportable information that is available without undue cost or effort, that demonstrates that the credit risk has not increased significantly since initial recognition even though the contractual payments are more than 30 days past due. ECLs are remeasured at each reporting date to reflect changes in the financial instrument’s credit risk since initial recognition. Any change in the ECL amount is recognized as an impairment gain or loss in consolidated income statement. The Group recognizes an impairment gain or loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account. Basis of calculation of interest income Interest income recognized in accordance with Note 2(z)(v) is calculated based on the gross carrying amount of the financial asset unless the financial asset is credit-impaired, in which case interest income is calculated based on the amortized cost (i.e. the gross carrying amount less loss allowance) of the financial asset. At each reporting date, the Group assesses whether a financial asset is credit-impaired. A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable events: • significant financial difficulties of the debtor; • a breach of contract, such as a default or delinquency in interest or principal payments; • it becoming probable that the borrower will enter into bankruptcy or other financial reorganization; • significant changes in the technological, market, economic or legal environment that have an adverse effect on the debtor; or • the disappearance of an active market for a security because of financial difficulties of the issuer. Write-off The gross carrying amount of a financial asset and lease receivable is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. Subsequent recoveries of an asset that was previously written off are recognized as a reversal of impairment in consolidated income statement in the period in which the recovery occurs. (ii) Credit losses from financial guarantees issued Financial guarantees are contracts that require the issuer (i.e. the guarantor) to make specified payments to reimburse the beneficiary of the guarantee (the “holder”) for a loss the holder incurs because a specified debtor fails to make payment when due in accordance with the terms of a debt instrument. After initial recognition at fair value, the Group, as an issuer of such a contract, subsequently measure it at the higher of: (i) the amount of the loss allowance and (ii) the amount initially recognized less, when appropriate, the cumulative amount of income recognized. The Group monitors the risk that the specified debtor will default on the contract and recognizes a provision when ECLs on the financial guarantees are determined to be higher than the carrying amount in respect of the guarantees (i.e. the amount initially recognized, less accumulated amortization). To determine ECLs, the Group considers changes in the risk of default of the specified debtor since the issuance of the guarantee. A 12-month As the Group is required to make payments only in the event of a default by the specified debtor in accordance with the terms of the instrument that is guaranteed, an ECL is estimated based on the expected payments to reimburse the holder for a credit loss that it incurs less any amount that the Group expects to receive from the holder of the guarantee, the specified debtor or any other party. The amount is then discounted using the current risk-free rate adjusted for risks specific to the cash flows. (iii) Impairment of other non-current Internal and external sources of information are reviewed |
Accounting estimates and judgem
Accounting estimates and judgements | 12 Months Ended |
Dec. 31, 2021 | |
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Accounting estimates and judgements | 3 Accounting estimates and judgements The Group’s financial position and results of operations are sensitive to accounting methods, assumptions and estimates that underlie the preparation of the consolidated financial statements. The Group bases the assumptions and estimates on historical experience and on various other assumptions that the Group believes to be reasonable and which form the basis for making judgements about matters that are not readily apparent from other sources. On an ongoing basis, management evaluates its estimates. Actual results may differ from those estimates as facts, circumstances and conditions change. The selection of critical accounting policies, the judgements and other uncertainties affecting application of those policies and the sensitivity of reported results to changes in condition and assumptions are factors to be considered when reviewing the financial statements. In addition to the assumptions and estimates regarding fair value measurements of financial instruments disclosed in Note 4(g), the Group believes the following also involve key accounting estimates and judgements used in the preparation of the financial statements. (a) Impairment of long-lived assets (other than goodwill) As discussed in Note 2(l)(iii), at the end of each reporting period, the Group tests for impairment for long-lived assets or cash-generating units (“CGUs”) (a portion of which related to aircraft and other flight equipment including rotables in property, plant and equipment, aircraft and engines in right-of-use The recoverable amount of assets or CGUs are the higher of the fair value less costs of disposal and value in use. As the fair value of certain assets or CGUs may not be publicly available, the Group uses all readily available information in determining an amount that is a reasonable approximation of recoverable amount, including estimates based on reasonable and supportable assumptions for projections of traffic revenue and operating costs and discount rates. In particular, in determining the value in use of the Group’s aircraft and related equipment, significant judgements are required on the accounting estimates which are based on the assumptions relating to traffic revenue growth rates, operating costs growth rates and discount rates applied, among which, operating costs consist of jet fuel costs, landing and navigation fees, maintenance expenses, payroll and welfare. (b) Frequent flyer revenue According to the frequent flyer award programs, the allocation of stand-alone selling price of the mileage awarded involves the estimation of the expected redemption rate. The expected redemption rate is estimated based on historical experience of mileage redemption, taking into consideration expected future mileage redemption patterns, which are associated with changes in the terms of mileage programs and customer behavior. Different estimates could significantly affect the estimated contract liabilities and the results of operations. (c) Income tax Deferred tax assets are recognized related to operating loss carryforwards that will reduce future taxable income. The Group needs to make judgements and estimates in assessing the realizability of the operating loss carryforwards. Different estimates could significantly affect the deferred income tax assets and income tax expense in the year in which such determination is made. (d) Depreciation and amortization As disclosed in Note 2(i) and Note 2(k), components related to engine overhaul costs under property, plant and equipment and right-of-use right-of-use (e) Provision for major overhauls As disclosed in Note 2(k) and Note 2(aa), provision for the cost of major overhauls to fulfil the lease return conditions involves estimation of the expected overhaul cycles and overhaul costs, which are based on the historical experience of actual costs incurred for overhauls of airframes and engines of the same or similar types and current economic and airline-related developments. Different estimates could significantly affect the estimated provision and the results of operations. (f) Ticket breakage revenue The Group recognizes, in proportion to the pattern of rights exercised by the customer, the breakage amount to which the Group expects to be entitled as ticket breakage revenue. Such portion is estimated based on the Group’s historical experiences, and the estimated revenue is recognized only to the extent that it is highly probable that a significant reversal in cumulative revenue recognized will not occur when the uncertainty is resolved. Different estimates could significantly affect the ticket breakage revenue recognized in the current financial year. |
Financial risk management and f
Financial risk management and fair values of financial instruments | 12 Months Ended |
Dec. 31, 2021 | |
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Financial risk management and fair values of financial instruments | 4 Financial risk management and fair values of financial instruments The Group is exposed to liquidity, interest rate, currency, credit risks and commodity jet fuel price risk in the normal course of business. The Group’s overall risk management programe focuses on the unpredictability of financial market and seeks to minimize the adverse effects on the Group’s financial performance. The Group’s exposure to these risks and the financial risk management policies and practices used by the Group to manage these risks are described below. (a) Liquidity risk As at December 31, 2021, the Group’s current liabilities exceeded its current assets by RMB 73,124 million. For the year ended December 31, 2021, the Group recorded a net cash inflow from operating activities of RMB7,688 million, a net cash outflow from investing activities of RMB15,820 million and a net cash inflow from financing activities of RMB4,186 million, which in total resulted in a net decrease in cash and cash equivalents of RMB3,946 million The Group is dependent on its ability to maintain adequate cash inflow from operations, its ability to maintain existing external financing, and its ability to obtain new external financing to meet its debt obligations as they fall due and to meet its committed future capital expenditures. The Group’s policy is to regularly monitor its liquidity requirements and its compliance with lending covenants, to ensure that it maintains sufficient reserves of cash and adequate committed lines of funding from major financial institutions to meet its liquidity requirements in the short and longer term. As at December 31, 2021, the Group has obtained credit facilities of RMB295,683 million in aggregate (December 31, 2020: RMB315,452 million) granted by several banks and other financial institute, among which approximately RMB204,051 was unutilized. The Directors of the Company believe that sufficient financing will be available to the Group when and where needed. The following tables show the remaining contractual maturities at the end of the reporting period of the Group’s non-derivative 2021 Contractual undiscounted cash outflow Within 1 year or on demand More than 1 year but less than 2 years More than 2 years but less than 5 years More than 5 years Total Carrying amount at December 31 RMB million RMB million RMB million RMB million RMB million RMB million Borrowings 59,167 19,428 18,824 3,586 101,005 96,267 Lease liabilities 25,331 22,764 45,142 25,923 119,160 102,749 Trade and other payables and accrued charges 20,097 — — — 20,097 20,097 Long-term payables 111 111 96 — 318 291 104,706 42,303 64,062 29,509 240,580 219,404 2020 Contractual undiscounted cash outflow Within 1 year or on demand More than 1 year but 2 years More than 2 years but 5 years More than 5 years Total Carrying amount at December 31 RMB million RMB million RMB million RMB million RMB million RMB million Borrowings 41,378 8,350 15,420 21,190 86,338 78,233 Lease liabilities 25,752 23,989 54,653 36,382 140,776 121,213 Trade and other payables and accrued charges 20,892 — — — 20,892 20,892 Long-term payables 111 111 207 — 429 385 88,133 32,450 70,280 57,572 248,435 220,723 (b) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Group’s borrowings and lease liabilities issued at floating and fixed interest rates expose the Group to cash flow interest rate risk and fair value interest rate risk, respectively. The Group determines the ratio of fixed-rate and floating-rate instruments according to the market environment and maintains an appropriate combination of fixed-rate and floating-rate instruments by reviewing and monitoring it on a regular basis. Interest rate swaps, denominated in United States Dollars (“USD”), have been entered into to mitigate its cash flow interest rate risk. Under the interest rate swaps, the Group agrees with other third parties to exchange, at specified intervals (primarily quarterly), the difference between fixed contract rates and floating-rate interest amounts calculated by reference to the agreed notional amounts (Note 27(ii)). Cross currency swaps have been entered into to mitigate its interest rate risk and foreign currency risk. Under the cross currency swaps, the Group agrees with other third parties to exchange the floating interest and principal payments in USD for fixed interest and principal payments in RMB for certain USD bank loans. As at December 31, 2021 and 2020, all cross currency swaps had been settled. As at December 31, 2021, it is estimated that a general increase/decrease of 100 basis points in interest rates, with all other variables held constant, would have increased/decreased the Group’s loss after tax and decreased/increased the Group’s retained earnings by approximately RMB328 million (December 31, 2020: RMB315 million; December 31, 2019: RMB559 million). In respect of the exposure to cash flow interest rate risk arising from floating-rate non-derivative The sensitivity analysis above indicates the instantaneous change in the Group’s loss/profit after tax (and retained earnings) and other components of consolidated equity that would arise assuming that the change in interest rates had occurred at the end of the reporting period and had been applied to re-measure (c) Foreign currency risk Renminbi is not freely convertible into foreign currencies. All foreign exchange transactions involving Renminbi must take place either through the PBOC or other institutions authorized to buy and sell foreign exchange or at a swap centre. The Group has significant exposure to foreign currency risk as majority of the Group’s lease liabilities (Note 37) are denominated in foreign currencies, principally USD, Euro and Japanese Yen. Depreciation or appreciation of Renminbi against foreign currencies affects the Group’s results significantly because the Group’s foreign currency liabilities generally exceed its foreign currency assets. The following table indicates the instantaneous change in the Group’s loss/profit after tax and retained earnings that would arise if foreign exchange rates to which the Group has significant exposure at the end of the reporting period had changed at that date, assuming all other risk variables remained constant. The range of such sensitivity was considered to be reasonably possible at the end of the reporting date. 2021 Appreciation/(depreciation) of Decrease/(increased) on loss after tax and increase/(decrease) on retained earnings RMB million USD 1 % 322 (1 %) (322 ) Euro 1 % 18 (1 %) (18 ) Japanese Yen 10 % 38 (10 %) (38 ) 2020 Appreciation/(depreciation) of Decrease/(increased) on loss RMB million USD 1 % 367 (1 %) (367 ) Euro 1 % 24 (1 %) (24 ) Japanese Yen 10 % 74 (10 %) (74 ) 2019 Appreciation/(depreciation) of Increase/(decrease) on profit RMB million USD 1 % 434 (1 %) (434 ) Euro 1 % 26 (1 %) (26 ) Japanese Yen 10 % 94 (10 %) (94 ) Results of the analysis as presented in the above table represent an aggregation of the instantaneous effects on each of the Group entities’ loss/profit after tax and retained earnings measured in the respective functional currencies, translated into Renminbi at the exchange rate ruling at the end of the reporting period for presentation purposes. The sensitivity analysis assumes that the change in foreign exchange rates had been applied to re-measure (d) Credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Group. The Group’s credit risk is primarily attributable to cash and cash equivalents, trade receivables, other receivables, other non-current financial assets (amortized cost) and derivative financial instruments. Cash and cash equivalents Substantially all of the Group’s cash and cash equivalents are deposited with major reputable PRC financial institutions, which management believes are of high credit quality. As the counterparties have favorable credit ratings, the Group does not expect there to be a risk of default. Trade receivables A significant portion of the Group’s air tickets are sold by agents participating in the Billing and Settlement Plan (“BSP”), a clearing scheme between airlines and sales agents organized by International Air Transportation Association. The use of the BSP reduces credit risk to the Group. As at December 31, 2021, the balance due from BSP agents amounted to RMB329 million (December 31, 2020: RMB293 million). The credit risk exposure to BSP and the remaining trade receivables balance are monitored by the Group on an ongoing basis and the relevant credit risk is within management’s expectations. The Group measures loss allowances for trade receivables at an amount equal to lifetime ECLs, which is calculated using a provision matrix. As the Group’s historical credit loss experience indicates significantly different loss patterns for different customer segments, the loss allowance based on past due status is further distinguished between air ticket receivables, mileage credits sales receivables, general aviation service receivables, receivables on cooperation flights and other trade receivables. The following table provides information about the Group’s exposure to credit risk and ECLs for air ticket receivables as at December 31, 2021: December 31, 2021 Expected Gross carrying amount Loss allowance % RMB million RMB million Within 3 months 0.01 % 1,811 — More than 3 months but less than 1 year 50.00 % 5 3 More than 1 year but less than 2 years 100.00 % 1 1 More than 2 years but less than 3 years 100.00 % 3 3 More than 3 years 100.00 % 15 15 1,835 22 December 31, 2020 Expected Gross carrying amount Loss % RMB million RMB million Within 3 months 0.01 % 1,461 — More than 3 months but less than 1 year 50.00 % 7 4 More than 1 year but less than 2 years 100.00 % 6 6 More than 2 years but less than 3 years 100.00 % 5 5 More than 3 years 100.00 % 13 13 1,492 28 Expected loss rates are estimated with reference to actual loss experience over the past years. These rates are adjusted to reflect differences between economic conditions during the period over which the historical data has been collected, current conditions and the Group’s view of economic conditions over the expected lives of the receivables. The credit risk of mileage credits sales receivables, general aviation service receivables and receivables on cooperation flights are considered to be low. The Group does not make credit loss allowance for these receivables. The Group measures loss allowance for other trade receivables amounted to RMB17 million (December 31, 2020: RMB15 million) based on ECLs. Movement in the loss allowance account in respect of trade receivables during the year is as follows: 2021 2020 RMB million RMB million Balance at January 1 43 36 Amounts written off during the year (4 ) (3 ) Impairment losses written back (5 ) (1 ) Impairment losses recognized during the year 5 11 Balance at December 31 39 43 Other receivables The Group measures loss allowance for other receivables equal to 12-month Set out below are the movements of loss allowances measured at 12-month 2021 2020 Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Total 12-month Lifetime impaired) Lifetime Total 12-month Lifetime Lifetime RMB RMB RMB RMB RMB RMB RMB RMB As at January 1 2 9 148 159 1 4 — 5 Accrual 2 — — 2 3 5 148 156 Reversal (3 ) — — (3 ) (2 ) — — (2 ) Write-off — — — — — — — — As at December 31 1 9 148 158 2 9 148 159 Derivative financial instruments The Group entered into derivative financial instruments arrangements with counterparties such as banks. Such arrangements are settled in net. As the counterparties have favorable credit ratings, the Group does not expect there to be a risk of default. (e) Jet fuel price risk The Group’s results of operations may be significantly affected by fluctuations in fuel prices since the jet fuel expenses are a significant cost for the Group. The Group may hedge a portion of the future fuel requirements through various financial derivative instruments linked to certain fuel commodities to lock in fuel costs within a hedged price range. In 2021, the Group did not enter into any jet fuel forward contract. A reasonable possible increase/decrease of 10% (2020 and 2019:10%) in jet fuel price, with volume of fuel consumed and all other variables held constant, would have increased/decreased the fuel costs by approximately RMB2,551 million (2020: RMB1,880 million; 2019: RMB4,281 million). The sensitivity analysis indicates the instantaneous change in the Group’s jet fuel costs that would arise assuming that the change in fuel price had occurred at the beginning of the financial year. (f) Capital management The Group’s primary objectives in managing capital are to safeguard the Group’s ability to continue as a going concern, and to generate sufficient profit to maintain growth and provide returns to its shareholders, by securing access to finance at a reasonable cost. The Group manages the amount of capital in proportion to risk and manages its debt portfolio in conjunction with projected financing requirements. The Group monitors capital on the basis of the debt ratio, which is calculated as total liabilities divided by total assets. During 2021, the Group’s strategy, which was unchanged from 2020 and 2019, was to maintain a debt ratio at a range of levels to support the operations and development of the Group’s business in the long run. In order to maintain or adjust the debt ratio, the Group may adjust the amount of dividends paid to shareholders, issue new shares, return capital to shareholders, raise new debt financing or sell assets to reduce debt. Except for the compliance of certain financial covenants for maintaining the Group’s banking facilities and borrowings, the Group is not subject to any externally imposed capital requirements. The Group complied with the financial covenants attached to borrowings as of and for the years ended December 31, 2021 and 2020. (g) Fair value (i) Financial instruments carried at fair value Fair value hierarchy The following table presents the carrying value of financial instruments measured at the end of the reporting period on a recurring basis, categorized into the three-level fair value hierarchy as defined in IFRS 13, Fair value measurement • Level 1 valuations: Fair value measured using only Level 1 inputs i.e. unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date • Level 2 valuations: Fair value measured using Level 2 inputs i.e. observable inputs which fail to meet Level 1, and not using significant unobservable inputs. Unobservable inputs are inputs for which market data are not available • Level 3 valuations: Fair value measured using significant unobservable inputs Fair value measurements as at December 31, 2021 categorized into Recurring fair value measurement Note Fair value at December 31, 2021 RMB million Level 1 RMB million Level 2 RMB million Level 3 RMB million Financial assets/(liabilities): Other equity instrument investments: -Non-listed 26 40 — — 40 -Non-tradable 26 523 — — 523 Other non-current -Listed shares 26 68 68 — — -Non-listed 26 27 — — 27 Derivative financial liabilities: -Interest rate swaps 27 (20 ) — (20 ) — -Derivative component of convertible bonds 27 (1,222 ) — (1,222 ) — Fair value measurements as at December 31, 2020 categorized into Recurring fair value measurement Note Fair value at RMB million Level 1 RMB million Level 2 RMB million Level 3 RMB million Financial assets/(liabilities): Other equity instrument investments: -Non-listed 26 100 — — 100 -Non-tradable 26 699 — — 699 Other non-current -Listed shares 26 64 64 — — -Non-listed 26 28 — — 28 Derivative financial liabilities: -Interest rate swaps 27 (53 ) — (53 ) — -Derivative component of convertible bonds 27 (3,092 ) — (3,092 ) — -Forward foreign exchange and foreign exchange options contracts 27 (56 ) — (56 ) — During the years ended December 31, 2021 and 2020, there were no transfers among level 1, level 2 and level 3. The Group’s policy is to recognize transfers between levels of fair value hierarchy as at the end of the reporting period in which they occur. Valuation techniques and inputs used in Level 2 fair value measurements Fair value of interest rate swaps in derivative financial liabilities is measured by discounting the expected receivable or payable amounts under the assumption that these swaps had been terminated at the end of the reporting period. The discount rates used are the US Treasury bond yield curve as at the end of the reporting period. Fair value of forward foreign exchange and foreign exchange options contracts is determined using quoted forward exchange rates at the reporting date and present value calculations based on high credit quality yield curves in the respective currencies. Fair value of derivative component of convertible bonds is measured by using the Binomial Model. The major inputs used in the Binomial Model are: At December 31, 2021 At December 31, 2020 Conversion price RMB 6.24 RMB 6.24 Stock price of A shares RMB 6.47 RMB 6.01 Stock market volatility 33.78 % 35.38 % Risk-free interest rate 2.59 % 3.14 % Fair value of cross currency swaps is the estimated amount that the Group would receive or pay to terminate the swaps at the end of the reporting period, taking into account current exchange rates and interest rates and the current creditworthiness of the swap counterparties. Information about Level 3 fair value measurements Valuation technique Significant unobservable inputs Range Other equity instruments investments -Non-listed Market comparable companies Discount for lack of marketability 32 % -Non-tradable Discounted cash flow Expected profit growth rate during the projection period 1%-169 % Perpetual growth rate 3 % Perpetual dividend payout rate 80 % Expected dividend payout rate during the projection period 28 % Discount rate 10.46 % Other non-current -Non-listed Discounted cash flow Expected profit growth rates during the projection period 10%-28 % Perpetual growth rates 1%-3 % Perpetual dividend payout rates 80 % Expected dividend payout rates during the projection period 27%-33 % Discount rates 10%-11.77 % (1) The fair value of non-listed (2) The fair value of these non-tradable non-listed (3) Any gain or loss arising from the remeasurement of the Group’s unlisted or non-tradable (non-recycling) (ii) Financial instruments not carried at fair value All other financial instruments, including cash and cash equivalents, amounts due from/to related companies, trade and other receivables, other non-current financial assets (amortized cost), trade and other payables, borrowings and lease liabilities are carried at amounts not materially different from their fair values as at December 31, 2021 and 2020. |
Operating revenue
Operating revenue | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Operating revenue | 5 Operating revenue The Group is principally engaged in the operation of civil aviation, including the provision of passenger, cargo, mail delivery, and other extended transportation services. (i) Disaggregation of revenue Disaggregation of revenue from contracts with customers by major service lines is as follows: 2021 2020 2019 Note RMB million RMB million RMB million Revenue from contracts with customers within the scope of IFRS 15: Disaggregated by service lines -Traffic revenue - Passenger 75,392 70,534 138,502 - Cargo and mail 19,887 16,493 9,615 -Commission income 2,677 2,771 2,952 -General aviation income 572 508 564 -Cargo handling income 864 507 359 -Hotel and tour operation income 538 390 712 -Ground services income 326 210 409 -Air catering service income 271 273 353 -Others 885 689 654 101,412 92,375 154,120 Revenue from other sources: -Rental income 19(e) 232 186 202 101,644 92,561 154,322 Disaggregation of revenue from contracts with customers by the timing of revenue recognition and by geographic markets is disclosed in Notes 6(a) and 6(b) respectively. (ii) Revenue expected to be recognized in the future arising from contracts with customers in existence at the reporting date As at December 31, 2021, the aggregated amount of the transaction price allocated to the remaining performance obligation, which is the unredeemed credits under the frequent flyer award programs, amounted to RMB 3,061 million (December 31, 2020: RMB3,196 million) (Note 39). This amount represents revenue expected to be recognized in the future when the customers obtain control of the goods or services. |
Segment reporting
Segment reporting | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Segment reporting | 6 Segment reporting (a) Business segments The Group has two reportable operating segments “airline transportation operations” and “other segments”, according to internal organization structure, managerial needs and internal reporting system. “Airline transportation operations” comprises the Group’s passenger and cargo and mail operations. “Other segments” includes cargo handling, hotel and tour operation, ground services, air catering services and other miscellaneous services. For the purposes of assessing segment performance and allocating resources between segments, the Group’s chief operating decision maker (“CODM”) monitors the results, assets and liabilities attributable to each reportable segment based on financial results prepared under the People’s Republic of China Accounting Standards for Business Enterprises (“PRC GAAP”). As such, the amount of each material reconciling item from the Group’s reportable segment loss/profit before taxation, assets and liabilities, which arises from different accounting policies, are set out in Note 6(c). Inter-segment sales and transfers are transacted with reference to the selling prices used for sales made to third parties at the then prevailing market prices. Information regarding the Group’s reportable segments as provided to the Group’s CODM for the purposes of resource allocation and assessment of segment performance is set out below. The segment results of the Group for the year ended December 31, 2021 are as follows: Airline transportation operations Other segments Elimination Unallocated* Total RMB million RMB million RMB million RMB million RMB million Disaggregated by timing of revenue recognition Point in time 2,763 1,418 (1,171 ) — 3,010 Over time 98,206 3,257 (2,829 ) — 98,634 Revenue from external customers 100,419 1,225 — — 101,644 Inter-segment sales 550 3,450 (4,000 ) — — Reportable segment revenue 100,969 4,675 (4,000 ) — 101,644 Reportable segment loss before taxation (13,769 ) (111 ) 2 (25 ) (13,903 ) Reportable segment loss after taxation (10,998 ) (67 ) 2 52 (11,011 ) Other segment information Income tax (2,771 ) (44 ) — (77 ) (2,892 ) Interest income 763 15 (103 ) — 675 Interest expense 6,291 26 (115 ) — 6,202 Depreciation and amortization 23,854 380 — — 24,234 Impairment loss 2,596 18 — — 2,614 Credit losses 1 (2 ) — — (1 ) Share of associates’ results — — — 9 9 Share of joint ventures’ results — — — 271 271 Change in fair value of financial assets / liabilities — — — (309 ) (309 ) Non-current # 21,457 905 (359 ) — 22,003 The segment results of the Group for the year ended December 31, 2020 are as follows: Airline transportation operations Other segments Elimination Unallocated* Total RMB million RMB million RMB million RMB million 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 amortization 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 # 24,039 547 (49 ) — 24,537 The segment results of the Group for the year ended December 31, 2019 are as follows: Airline transportation operations Other segments Elimination Unallocated* Total RMB million RMB million RMB million RMB million 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 amortization 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 # 44,851 739 — — 45,590 The segment assets and liabilities of the Group as at December 31, 2021 and December 31, 2020 are as follows: Airline transportation operations Other segments Elimination Unallocated* Total RMB million RMB million RMB million RMB million RMB million As at December 31, 2021 Reportable segment assets 312,020 5,909 (1,616 ) 6,635 322,948 Reportable segment liabilities 236,428 2,640 (1,607 ) 1,242 238,703 As at December 31, 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 * Unallocated assets primarily include interest in associates and joint ventures, derivative financial assets and equity securities. Unallocated liabilities primarily include derivative financial liabilities. Unallocated results primarily include the share of results of associates and joint ventures, dividend income from equity securities, and the fair value movement of financial instruments recognized through profit or loss. # The additions of non-current non-current (b) Geographical information The Group’s business segments operate in three main geographical areas, even though they are managed on a worldwide basis. The Group’s revenue by geographical segment are analyzed based on the following criteria: (1) Traffic revenue from services of both origin and destination within the PRC (excluding Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan (“Hong Kong, Macau and Taiwan”)), is classified as domestic revenue. Traffic revenue with origin and destination among PRC, Hong Kong, Macau and Taiwan is classified as Hong Kong, Macau and Taiwan revenue; while that with origin from or destination to other overseas markets is classified as international revenue. (2) Revenue from commission income, general aviation, cargo handling, hotel and tour operation, ground services, air catering services and other miscellaneous services are classified on the basis of where the services are performed. 2021 2020 2019 RMB million RMB million RMB million Domestic 76,517 65,137 110,112 International 24,739 27,090 41,651 Hong Kong, Macau and Taiwan 388 334 2,559 101,644 92,561 154,322 The major revenue earning assets of the Group are its aircraft fleet which is registered in the PRC and is deployed across its worldwide route network. Majority of the Group’s other assets are located in the PRC. CODM considers that there is no suitable basis for allocating such assets and related liabilities to geographical locations. Accordingly, geographical segment assets and liabilities are not disclosed. (c) Reconciliation of reportable segment (loss)/profit before income tax, assets and liabilities to the consolidated figures as reported in the consolidated financial statements Note 2021 2020 2019 (Loss)/profit before income tax Reportable segment (loss)/profit before taxation 6(a) (13,903 ) (15,186 ) 4,070 Capitalization of exchange difference of specific loans (i) (8 ) (9 ) (16 ) Government grants (ii) 1 — 1 Consolidated (loss)/profit before income tax (13,910 ) (15,195 ) 4,055 Note 2021 RMB million 2020 RMB million Assets Reportable segment assets 6(a) 322,948 326,115 Capitalization of exchange difference of specific loans (i) 39 47 Government grants (ii) (5 ) (6 ) Adjustments arising from business combinations under common control (iii) 237 237 Others (8 ) (10 ) Consolidated total assets 323,211 326,383 Liabilities As at December 31, 2021 and 2020, the amount of reportable segment liabilities is the same as the amount of consolidated total liabilities. Notes: (i) In accordance with the PRC GAAP, exchange difference arising on translation of specific loans and related interest denominated in a foreign currency is capitalized as part of the cost of qualifying assets. Under IFRSs, such exchange difference is recognized in income statement unless the exchange difference represents an adjustment to interest. (ii) In accordance with the PRC GAAP, assets related government grants (other than special funds) are deducted from the cost of the related assets. Special funds granted by the government and clearly defined in the approval documents as part of “capital reserve” are accounted for as increase in capital reserve. Under IFRSs, assets related government grants are deducted to the cost of the related assets. The difference is resulted from government grants received in previous years and are recognized in capital reserve under PRC GAAP. (iii) In accordance with the PRC GAAP, the Company accounts for the business combination under common control by applying the pooling-of-interest pooling-of-interest |
Flight operation expenses
Flight operation expenses | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Flight operation expenses | 7 Flight operation expenses 2021 2020 2019 Jet fuel costs 25,505 18,797 42,814 Flight personnel payroll and welfare 10,763 10,232 12,709 Air catering expenses 1,577 1,765 3,975 Civil Aviation Development Fund 1,059 — 2,332 Aircraft operating lease charges 920 977 1,412 Training expenses 690 857 1,142 Aircraft insurance 184 191 192 Others 4,871 4,726 5,990 45,569 37,545 70,566 |
Maintenance expenses
Maintenance expenses | 12 Months Ended |
Dec. 31, 2021 | |
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Maintenance expenses | 8 Maintenance expenses 2021 2020 2019 Aviation repair and maintenance charges 7,890 9,101 8,565 Staff payroll and welfare 2,994 2,875 2,976 Maintenance materials 1,278 1,399 1,516 12,162 13,375 13,057 |
Aircraft and transportation ser
Aircraft and transportation service expenses | 12 Months Ended |
Dec. 31, 2021 | |
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Aircraft and transportation service expenses | 9 Aircraft and transportation service expenses 2021 2020 2019 Landing and navigation fees 11,705 10,857 17,658 Ground service and other charges 9,442 7,886 8,933 21,147 18,743 26,591 |
Promotion and selling expenses
Promotion and selling expenses | 12 Months Ended |
Dec. 31, 2021 | |
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Promotion and selling expenses | 10 Promotion and selling expenses 2021 2020 2019 Ticket office expenses 2,809 2,935 3,299 Sales commissions 773 842 2,214 Computer reservation services 413 352 959 Advertising and promotion 140 121 314 Others 570 757 969 4,705 5,007 7,755 |
General and administrative expe
General and administrative expenses | 12 Months Ended |
Dec. 31, 2021 | |
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General and administrative expenses | 11 General and administrative expenses 2021 2020 2019 General corporate expenses 3,282 3,572 3,692 Auditors’ remuneration 15 20 20 - Audit services 14 17 18 - Non-audit 1 3 2 Credit losses (1 ) 164 13 Other taxes and levies 367 332 348 3,663 4,088 4,073 |
Depreciation and amortization
Depreciation and amortization | 12 Months Ended |
Dec. 31, 2021 | |
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Depreciation and amortization | 12 Depreciation and amortization 2021 2020 2019 Depreciation of property, plant and equipment 8,835 8,824 9,029 Depreciation of right-of-use 14,888 15,388 15,263 Other amortization 518 378 328 24,241 24,590 24,620 |
Staff costs
Staff costs | 12 Months Ended |
Dec. 31, 2021 | |
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Staff costs | 13 Staff costs 2021 2020 2019 Salaries, wages and welfare 23,441 22,592 24,647 Defined contribution retirement scheme 2,802 2,183 2,794 Other retirement welfare subsidy 50 72 206 26,293 24,847 27,647 Staff costs relating to flight operations and maintenance are also included in the respective total amounts disclosed separately in Note 7 to Note 8 above. |
Other net income
Other net income | 12 Months Ended |
Dec. 31, 2021 | |
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Other net income | 14 Other net income 2021 2020 2019 Government grants (Note) 4,040 4,209 4,129 Gains/( losses -Aircraft and spare engines and construction in progress 149 (18 ) 34 -Other property, plant and equipment and right-of-use assets 214 75 106 Others 364 420 855 4,767 4,686 5,124 Note: Government grants mainly include subsidies granted by various local governments to encourage the Group to operate certain routes to cities where these governments are located. There are no unfulfilled conditions and other contingencies related to subsidies that have been recognized during the years ended December 31, 2021, 2020 and 2019. |
Interest expense
Interest expense | 12 Months Ended |
Dec. 31, 2021 | |
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Interest expense | 15 Interest expense 2021 2020 2019 Interest on borrowings 2,448 1,914 1,840 Interest relating to lease liabilities (Note 21) 4,434 5,180 5,302 Total interest expense on financial liabilities not at fair value through profit or loss 6,882 7,094 7,142 Less: interest expense capitalized (Note) (701 ) (363 ) (1,279 ) 6,181 6,731 5,863 Interest rate swaps: cash flow hedge, reclassified from equity (Note 17) 21 (15 ) (18 ) 6,202 6,716 5,845 Note: The weighted average interest rate used for interest capitalization was 2.61% per annum in 2021 (2020: 2.51%; 2019: 3.51%). |
Income tax
Income tax | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Income tax | 16 Income tax (a) Income tax (credit)/expense in the consolidated income statement 2021 RMB million 2020 RMB million 2019 RMB million PRC income tax –Provision for the year 2,159 1,716 1,611 –Under - 35 48 10 2,194 1,764 1,621 Deferred tax (Note 29) Origination and reversal of temporary differences (5,088 ) (5,132 ) (650 ) Income tax (credit)/expense (2,894 ) (3,368 ) 971 In respect of a majority of the Group’s airlines operation outside mainland China, the Group has either obtained exemptions from overseas taxation pursuant to the bilateral aviation agreements between the overseas governments and the PRC government, or has sustained tax losses in those overseas jurisdictions. Accordingly, no provision for overseas income tax has been made for overseas airlines operation in the current and prior years. For the year of 2021, the Company and its branches are subject to income tax rates ranging from 15% to 25% (2020: 15% to 25%; 2019: 15% to 25%), and the subsidiaries of the Company are subject to income tax rates ranging from 15% to 25% (2020: 15% to 25%; 2019: 15% to 30%). Certain subsidiaries of the Company are located in Hong Kong and are subject to income tax at 16.5% (2020: 16.5%; 2019: 16.5%). (b) Reconciliation between actual income tax (credit)/expense and calculated tax based on accounting (loss)/profit at applicable income tax rates 2021 RMB million 2020 RMB million 2019 RMB million (Loss)/profit before income tax (13,910 ) (15,195 ) 4,055 Notional tax on (loss)/profit before taxation, calculated at the rates applicable to (loss)/profits in the tax jurisdictions concerned (Note 16(a)) (3,380 ) (3,667 ) 964 Adjustments for tax effect of: Non-deductible 96 102 18 Share of results of associates and joint ventures and other non-taxable (70 ) 111 (50 ) Unused tax losses and deductible temporary differences for which no deferred tax assets were recognized 489 80 62 Utilization of unused tax losses and deductible temporary differences for which no deferred tax assets were recognized in prior years (32 ) (8 ) (3 ) Under - 35 48 10 Super deduction of research and development expenses (32 ) (34 ) (30 ) Income tax (credit)/expense (2,894 ) (3,368 ) 971 |
Other comprehensive income
Other comprehensive income | 12 Months Ended |
Dec. 31, 2021 | |
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Other comprehensive income | 17 Other comprehensive income 2021 RMB million 2020 RMB million 2019 RMB million Cash flow hedges: Effective portion of changes in fair value of hedging instruments recognized during the year 21 (30 ) (54 ) Reclassification adjustments for amounts transferred to profit or loss: - interest expense (Note 15) 21 (15 ) (18 ) Net deferred tax (debited)/credited to other comprehensive income (10 ) 11 17 32 (34 ) (55 ) Equity investments measured at FVOCI: Changes in fair value recognized during the year (236 ) (250 ) (31 ) Net deferred tax credited to other comprehensive income 60 63 7 (176 ) (187 ) (24 ) Share of other comprehensive income of associates Will not be reclassified to profit or loss (2 ) (2 ) 3 May be reclassified subsequently to profit or loss 3 (3 ) — 1 (5 ) 3 Differences resulting from the translation of foreign currency financial statements — 8 (7 ) Other comprehensive income for the year (143 ) (218 ) (83 ) |
(Loss)_earnings per share
(Loss)/earnings per share | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
(Loss)/earnings per share | 18 (Loss)/earnings per share The calculation of basic (loss)/earnings per share for the year ended December 31, 2021 is based on the loss attributable to equity shareholders of the Company of RMB 12,106 RMB10,847 million, 2019: the profits attributable to equity shareholders of the Company of RMB2,640 million) and the weighted average of 16,201,129,384 shares in issue during the year (2020: 14,056,887,174 shares, 2019: 12,267,172,286 shares). 2021 million 2020 million 2019 million Issued ordinary shares at January 1 15,329 12,267 12,267 Effect of issuance of shares 872 1,790 — Weighted average number of ordinary shares at December 31 16,201 14,057 12,267 The amount of diluted loss per share is the same as basic loss per share as the effect of convertible bonds is anti-dilutive for the year ended December 31, 2021 and for the year ended December 31, 2020. The amounts of diluted earnings per share are the same as basic earnings per share as there were no dilutive potential ordinary shares in existence for the year ended December 31, 2019. |
Property, plant and equipment,
Property, plant and equipment, net | 12 Months Ended |
Dec. 31, 2021 | |
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Property, plant and equipment, net | 19 Property, plant and equipment, net Investment properties RMB million Buildings RMB million Aircraft RMB million Other flight equipment including rotables RMB million Machinery, equipment and vehicles RMB million Total RMB million Cost: At January 1 , 470 16,046 113,276 24,385 8,253 162,430 Additions — 12 1,435 542 935 2,924 Transferred from construction in progress (Note 20) — 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 — — 2,780 — — 2,780 Disposals - disposals — (152 ) (6,830 ) (399 ) (558 ) (7,939 ) - disposal of a subsidiary — (99 ) — — (34 ) (133 ) At December 31, 2020 522 21,475 114,380 25,025 9,936 171,338 At January 1 , 522 21,475 114,380 25,025 9,936 171,338 Additions — 66 2,855 487 668 4,076 Transferred from construction in progress (Note 20) — 2,097 8,796 434 486 11,813 Reclassification on change of holding intention: - transferred to other property, plant and equipment, net (32 ) 32 — — — — - transferred from other property, plant and equipment, net 50 (50 ) — — — — Transfer to assets held for sale (Note 35) — — (6,309 ) (152 ) — (6,461 ) Transferred from right-of-use — — 2,761 — — 2,761 Others 9 — — — — 9 Disposals (c) (8 ) (115 ) (6,393 ) (441 ) (556 ) (7,513 ) At December 31, 2021 541 23,505 116,090 25,353 10,534 176,023 Investment properties RMB million Buildings RMB million Aircraft RMB million Other flight equipment including rotables RMB million Machinery, equipment and vehicles RMB million Total RMB million Accumulated depreciation and impairment losses: At January 1 , 166 4,917 54,177 13,119 5,263 77,642 Depreciation charge for the year 23 618 5,744 1,493 946 8,824 Reclassification on change of holding intention: - transferred from other property, plant and equipment, net 21 (21 ) — — — — Transferred from right-of-use — — 982 — — 982 Disposals - disposals — (59 ) (4,588 ) (372 ) (483 ) (5,502 ) - disposal of a subsidiary — (15 ) — — (11 ) (26 ) Provision for impairment losses — — 3,202 75 2 3,279 Impairment losses written off on disposals — — — (7 ) — (7 ) At December 31, 2020 210 5,440 59,517 14,308 5,717 85,192 At January 1 , 210 5,440 59,517 14,308 5,717 85,192 Depreciation charge for the year 16 712 5,673 1,394 1,040 8,835 Reclassification on change of holding intention: - transferred to other property, plant and equipment, net (19 ) 19 — — — — - transferred from other property, plant and equipment, net 35 (35 ) — — — — Transfer to assets held for sale (Note 35) — — (2,746 ) (66 ) — (2,812 ) Transferred from right-of-use — — 1,202 — — 1,202 Disposals (6 ) (28 ) (4,270 ) (406 ) (414 ) (5,124 ) Provision for impairment losses (a) — — 914 80 — 994 Impairment losses transfer to assets held for sale (Note 35) — — (2,581 ) (60 ) — (2,641 ) Impairment losses written off on disposals (c) — — (809 ) — — (809 ) At December 31, 2021 236 6,108 56,900 15,250 6,343 84,837 Net book value: At December 31, 2021 305 17,397 59,190 10,103 4,191 91,186 At December 31, 2020 312 16,035 54,863 10,717 4,219 86,146 (a) As at December 31, 2021, the Group reported aircraft and related equipment in the amount of RMB199,407 million. For the year ended December 31, 2021, the Group made impairment provision of RMB2,579 million in aggregate towards certain aged or market value declined aircraft and related equipment based on its fleet disposal plans. Among which, the impairment provision for owned aircraft and related equipment were RMB994 million, and the impairment provision for leased aircraft and related equipment were RMB1,585 million (Note 21). Provision were made when asset’s carrying amount exceed its recoverable amount. The estimated recoverable amounts of above aircraft and related equipment with impairment indications were based on the fair value less cost to sell, which was determined by reference to the recent observable market prices for those aircraft and related equipment or appraisal results valued by external appraisal expert based on the cost method. (b) As at December 31, 2021, no property, plant and equipment of the Group were mortgaged for bank borrowings (December 31, 2020: Nil ). (c) During the year, the Group disposed certain aircraft directly and disposed certain aircraft through sale and leaseback agreement, against which cost, accumulated depreciation and impairment losses of the aircraft had been reduced with an aggregate amount of RMB4,042 million, RMB2,728 million and RMB809 million respectively. During the year, the Group derecognized certain aircraft under finance lease agreements as a lessor, against which cost and accumulated depreciation of the aircraft had been reduced with an aggregate amount of RMB792 million and RMB0 respectively, and a long-term receivable was recognized accordingly. As at December 31, 2021, the balance of long-term receivable was RMB783 million (including the balance due within one year) (Note 26). (d) As at December 31, 2021 and up to the date of approval of these financial statements, the Group is in the process of applying for the property title certificates in respect of the certain properties located in mainland China, in which the Group has interests and for which such certificates have not been granted. As at December 31, 2021, carrying value of such properties of the Group amounted to RMB10,554 million (December 31, 2020: RMB10,226 million). The Directors of the Company are of the opinion that the use of and the conduct of operating activities at the properties referred to above are not affected by the fact that the Group has not yet obtained the relevant property title certificates. (e) The Group leased out investment properties and facilities under operating leases. The leases typically run for an initial period of one to fifteen years, with an option to renew the leases after that date at which time all contract terms are renegotiated. In this connection, rental income total The properties are reclassified between investment properties and other property, plant and equipment, upon the intention of commencement or cessation of lease. The Group’s total future minimum lease income under non-cancellable 2021 2020 RMB million RMB million Within 1 year 47 66 After 1 year but within 5 years 130 120 After 5 years 72 97 249 283 (f) Components related to engine overhaul costs under property, plant and equipment and right-of-use assets were originally depreciated using the straight-line method by the Group. Upon analysis of historical data over past years and assessment of the actual consumption model and the expected method of relevant economic benefit realization in respect of the overhaul components of engines, the Group is of the view that the consumption of components related to engine overhaul costs is more directly associated with the actual flying hours. Therefore, the Group is of the view that changing the depreciation method of components related to engine overhaul costs to the units of production method can more truly and objectively reflect the actual consumption of assets, the financial position and operating performance of the Group. This change in accounting estimates has been applied prospectively with effect from April 1, 2020. The comparison of depreciation method of components related to engine overhaul costs before and after the change is detailed as below: 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% As a result of this change in accounting estimates, the consolidated loss before tax of the Group was decreased by approximately RMB1,618 million during 2020. As it is impractical to accurately forecast the flying hours of the engines of the Group for the future periods, the Group is of the view that it is unable to estimate the respective impacts on the financial information of the Group for the future periods. |
Construction in progress
Construction in progress | 12 Months Ended |
Dec. 31, 2021 | |
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Construction in progress | 20 Construction in progress Advance payment for aircraft and flight RMB million Others Total At January 1, 2020 30,919 8,303 39,222 Additions 8,858 4,637 13,495 Transferred to property, plant and equipment (Note 19) (4,216 ) (7,060 ) (11,276 ) Transferred to right-of-use (6,219 ) (2,440 ) (8,659 ) Transferred to others — (375 ) (375 ) At December 31, 2020 29,342 3,065 32,407 At January 1, 2021 29,342 3,065 32,407 Additions 10,464 1,821 12,285 Transferred to property, plant and equipment (Note 19) (9,230 ) (2,583 ) (11,813 ) Transferred to right-of-use (454 ) (61 ) (515 ) Transferred to others — (517 ) (517 ) At December 31, 2021 30,122 1,725 31,847 |
Right-of use assets
Right-of use assets | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Right-of use assets | 21 Right-of-use Aircraft and engines RMB million Land use rights RMB million Buildings RMB million Others RMB million Total RMB million Cost: At January 1 , 215,381 4,022 2,790 392 222,585 Additions 6,526 45 412 190 7,173 Transfer from construction in progress (Note 20) 5,993 2,440 — 226 8,659 Transferred to property, plant and equipment on exercise of purchase option (Note 19) (2,780 ) — — — (2,780 ) Disposals - disposals (4,419 ) — (180 ) — (4,599 ) - disposal of a subsidiary — (26 ) — (43 ) (69 ) At December 31, 2020 220,701 6,481 3,022 765 230,969 At January 1 , 220,701 6,481 3,022 765 230,969 Additions 3,493 343 1,194 243 5,273 Transfer from construction in progress (Note 20) 302 61 — 152 515 Transferred to property, plant and equipment on exercise of purchase option (Note 19) (2,761 ) — — — (2,761 ) Transferred to assets held for sale (Note 35) (1,582 ) — — — (1,582 ) Disposals (5,959 ) (75 ) (931 ) (26 ) (6,991 ) At December 31, 2021 214,194 6,810 3,285 1,134 225,423 Aircraft and engines RMB million Land use rights RMB million Buildings RMB million Others RMB million Total RMB million Accumulated amortization and impairment losses: At January 1 , 67,890 813 637 34 69,374 Amortization charge for the year 14,167 134 997 90 15,388 Transferred to property, plant and equipment on exercise of purchase option (Note 19) (982 ) — — — (982 ) Disposals - disposals (4,419 ) — (132 ) — (4,551 ) - disposal of a subsidiary — — — (7 ) (7 ) Provision for impairment losses 682 — — — 682 At December 31, 2020 77,338 947 1,502 117 79,904 At January 1 , 77,338 947 1,502 117 79,904 Amortization charge for the year 13,616 140 954 178 14,888 Transferred to property, plant and equipment on exercise of purchase option (Note 19) (1,202 ) — — — (1,202 ) Transferred to assets held for sale (Note 35) (616 ) — — — (616 ) Disposals (5,959 ) — (913 ) (21 ) (6,893 ) Provision for impairment losses (Note 19(a)) 1,585 — — — 1,585 Impairment losses transfer to assets held for sale (Note 35) (682 ) — — — (682 ) At December 31, 2021 84,080 1,087 1,543 274 86,984 Net book value: At December 31, 2021 130,114 5,723 1,742 860 138,439 At December 31, 2020 143,363 5,534 1,520 648 151,065 The Group was formally granted the rights to use certain parcels of land by the relevant PRC authorities for periods of 30 to 70 years, which expire before 2075. As at December 31, 2021 and up to the date of approval of these financial statements, the Group is in the process of applying for land use right certificates in respect of certain parcels of land used by the Group. As at December 31, 2021, carrying value of such land use rights of the Group amounted to RMB2,987 million (December 31, 2020: RMB3,019 million). The Directors of the Company are of the opinion that the use of and the conduct of operating activities at the land referred to above are not affected by the fact that the Group has not yet obtained the relevant land use right certificates. As at December 31, 2021, no land use right of the Group was mortgaged for bank borrowings (December 31, 2020: Nil). In addition to the amortization charged, the analysis of expense items in relation to leases recognized in profit or loss is as follows: 2021 RMB million 2020 RMB million 2019 RMB million Interest on lease liabilities (Note 15) 4,434 5,180 5,302 Interest rate swaps: cash flow hedge, reclassified from equity (Note 15) 21 (15 ) (18 ) Expense relating to short-term leases 1,241 1,257 2,092 Expense relating to leases of variable lease payments not included in the measurement of lease liabilities 124 106 81 The Group changed the accounting estimates in relation to the depreciation method of components related to engine overhaul costs, with effect from April 1, 2020 (see Note 19(f)). During the year, additions to right-of-use Details of total cash outflow for leases and the maturity analysis of lease liabilities are set out in Note 34(d) and Note 37 respectively. As disclosed in Note 2(b), the Group has early adopted the Amendment to IFRS 16, COVID-19-related |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Goodwill | 22 Goodwill 2021 RMB million 2020 RMB million Cost and carrying amount: 237 237 Impairment tests for cash-generating units containing goodwill 2021 RMB million 2020 RMB million Southern Airlines Group Import and Export Trading Company (“SAIETC”) 182 182 Xiamen Airlines Culture and Media Co., Ltd. 55 55 Total 237 237 The recoverable amount of the CGU is determined based on value-in-use The cash flows of the above entities are discounted using pre-tax 10.5% to 13.5% (2020: 10.5% to 13.5%). |
Subsidiaries
Subsidiaries | 12 Months Ended |
Dec. 31, 2021 | |
Investments accounted for using equity method [abstract] | |
Subsidiaries | 23 Subsidiaries All the subsidiaries of the Company are unlisted. The following list contains only the particulars of subsidiaries which principally affect the results, assets or liabilities of the Group. Name of company Place of establishment/ operation Registered capital Proportion of ownership interest held by the Company Principal activity China Southern Airlines Henan Airlines Company Limited (i) PRC RMB 6,000,000,000 60 % Airline transportation Xiamen Airlines Company Limited PRC RMB 14,000,000,000 55 % Airline transportation Chongqing Airlines Company Limited (i) PRC RMB 1,200,000,000 60 % Airline transportation Shantou Airlines Company Limited (i) PRC RMB 280,000,000 60 % Airline transportation Zhuhai Airlines Company Limited (i) PRC RMB 250,000,000 60 % Airline transportation Guizhou Airlines Company Limited (i) PRC RMB 1,281,000,000 60 % Airline transportation Guangzhou Nanland Air Catering Company Limited (ii) PRC RMB 240,000,000 70.50 % Air catering Beijing Southern Airlines Ground Services PRC RMB 100,000,000 100 % Airport ground services Nan Lung International Freight Limited Hong Kong HKD 3,270,000 51 % Freight services China Southern Airlines General PRC RMB 1,342,280,000 57.88 % General aviation Name of company Place of establishment/ operation Registered capital Proportion of ownership interest held by the Company Principal activity SAIETC (i) PRC RMB 30,000,000 100 % Import and export agent services Zhuhai Xiang Yi Aviation Technology Company Limited (i) PRC RMB 469,848,400 100 % Flight simulation services China Southern Airlines Xiongan Airlines Company Limited (i) PRC RMB 10,000,000,000 100 % Airline transportation China Southern Air Logistics Co., Ltd. (“Logistics Company”) (i) & (iv) PRC RMB 1,818,181,820 55 % Logistics operations Shenyang Northern Aircraft Maintenance Co., Ltd. (“Shenyang Aircraft Maintenance”) (i) & (vii) PRC RMB 31,520,545 100 % Aircraft repair and maintenance services Guangdong Southern Airline Pearl Aviation Services Company Limited (“Pearl Aviation Services”) (i) & (viii) PRC RMB 5,000,000 100 % Hotel management services Southern Airlines Nansha Finance Leasing (Guangzhou) Co.,Ltd. (i) PRC RMB 2,000,000,000 100 % Leasing services (i) These subsidiaries are PRC limited liability companies. (ii) This subsidiary is a sino-foreign equity joint venture company established in the PRC. (iii) CSAGA On December 18, 2020, certain third parties invested into CSAGA by means of capital injection and acquisition of the Company’s partial equity interests in CSAGA, the Company’s equity interests in CSAGA were decreased from 100% to 57.88%. Changes in the Company’s equity interests do not result in a loss of control of CSAGA. The above transactions had the following effect on the Group’s other reserves in equity: RMB million Cash consideration received from third parties on partial disposal of equity interests 332 Capital injection from third parties 510 Less: Portion of net assets of CSAGA disposed 667 Other reserves in equity 175 (iv) Logistics Company On December 24, 2020, certain third parties made capital injections into Logistics Company causing a decrease of the Company’s equity interests in Logistics Company from Changes in the Company’s equity interests do not result in a loss of control of Logistics Company. The above transactions had the following effect on the Group’s other reserves in equity: RMB million Capital injection from third parties 3,355 Less: Portion of net assets of Logistics Company disposal 2,830 Other reserves in equity 525 (v) China Southern West Australian Flying College Pty Ltd. (“Flying College”) Flying College, a former subsidiary of the Company, went into liquidation process on December 21, 2020. Since then, the Group lost control of Flying College, and Flying College was no longer within the consolidation scope. The operating results and cash flow of Flying College before entering the liquidation process had been included in the consolidated income statement and consolidated cash flow statement of the Group this year. The Group recognized a net loss of RMB8 million on disposal of Flying College. (vi) Guangzhou Baiyun International Logistic Company Limited (“Baiyun Logistic”) In January 2020, the Company acquired 29% equity interests from a third party in Baiyun Logistic, a subsidiary that the Company previously held 61% equity interests. On May 31, 2020, the Company transferred the then hold 90% equity interests of Baiyun Logistic to Logistics Company as capital injection. Since then, Baiyun Logistic became an indirect subsidiary of the Company through Logistics Company. The above transactions had the following effect on the Group’s other reserves in equity: RMB million Cash consideration paid 260 Less: Portion of net assets of Baiyun Logistic acquired 105 Other reserves in equity 155 (vii) Shenyang Aircraft Maintenance Pursuant to the equity transfer agreement entered into between the Company and a third party, the Company acquired 21% equity interests Shenyang Aircraft Maintenance, a former joint venture of the Company, at a cash consideration of RMB14 million on April 23, 2019. On the same date, the Company obtained control over Shenyang Aircraft Maintenance, and Shenyang Aircraft Maintenance became a wholly-owned subsidiary of the Company. The acquisition of Shenyang Aircraft Maintenance enables the Group to engage in comprehensive maintenance service. In the period from the acquisition date to December 31, 2019, Shenyang Aircraft Maintenance contributed revenue of RMB39 million and profit of RMB1 million to the Group’s results. If the acquisition had occurred on January 1, 2019, management estimates that consolidated revenue would have been increased by RMB21 million, and consolidated profit for the year would have been increased by RMB4 million. In determining these amounts, management have assumed that the fair value adjustments that arose on the acquisition date would have been the same if the acquisition had occurred on January 1, 2019. The information above is the amount before inter-company eliminations. The above acquisitions had the following effect on the Group’s assets and liabilities on acquisition date: Recognized values on Non-current assets 31 Current assets 41 Non-current liabilities (6 ) Current liabilities (3 ) Total net identifiable assets 63 Analysis of the net inflow of cash and cash equivalents in respect of the acquisitions: Cash consideration paid (14 ) Cash and cash equivalents acquired 26 Net cash inflow 12 (viii) Pearl Aviation Services Pursuant to the equity transfer agreement entered into between the Company and the other third parties shareholders of Pearl Aviation Services, the Company acquired 100% equity interests in Pearl Aviation Services at a consideration of RMB9 million on December 17, 2019. On the same date, the Company obtained the control of Pearl Aviation Services, and Pearl Aviation Services became a wholly-owned subsidiary of the Company. The acquisition of Pearl Aviation Services enables the Group to engage in hotel management services business. As the acquisition was completed in December, limited amount of revenue and profit were contributed to the Group by Pearl Aviation Services. If the acquisition had occurred on January 1, 2019, management estimates that consolidated revenue would have been increased by RMB499 million, and consolidated profit for the year would have been increased by RMB17 million. In determining these amounts, management have assumed that the fair value adjustments that arose on the acquisition date would have been the same if the acquisition had occurred on January 1, 2019. The information above is the amount before inter-company eliminations. The above acquisitions had the following effect on the Group’s assets and liabilities on acquisition date: Recognized values on Non-current assets 19 Current assets 252 Current liabilities (257 ) Total net identifiable assets 14 Analysis of the net inflow of cash and cash equivalents in respect of the acquisitions: Cash consideration paid (9 ) Cash and cash equivalents acquired 173 Net cash inflow 164 (ix) Material non-controlling As at December 31, 2021, the balance of total non-controlling : RMB8,809 million) is for Xiamen Airlines and RMB 4,814 million (December 31, 2020: RMB2,892 million) is for Logistics Company non-controlling • Set out below are the summarized information 2021 RMB million 2020 RMB million Non-controlling interests 45 % 45 % Current assets 3,137 2,292 Non-current 48,775 50,975 Current liabilities (18,601 ) (16,033 ) Non-current (13,781 ) (18,431 ) Net assets 19,530 18,803 Carrying amount of non-controlling 9,103 8,809 Revenue 21,037 20,675 Loss for the year (938 ) (181 ) Total comprehensive income (1,071 ) (304 ) Loss allocated to non-controlling (455 ) (109 ) Dividend paid to non-controlling — 31 Net cash generated from operating activities 4,291 4,268 Net cash used in investing activities (1,099 ) (1,430 ) Net cash used in financing activities (2,529 ) (3,201 ) • Set out below are the summarized financial information for Logistics Company 2021 RMB million 2020 RMB million (Note) Non-controlling 45 % 45 % Current assets 12,124 8,479 Non-current 2,046 732 Current liabilities (3,505 ) (2,708 ) Non-current (91 ) (112 ) Net assets 10,574 6,391 Carrying amount of non-controlling 4,814 2,892 Revenue 19,659 15,397 Profit for the year 5,693 4,013 Total comprehensive income 5,693 4,013 Profit allocated to non-controlling 2,572 16 Dividend paid to non-controlling 650 2 Net cash generated from operating activities 6,872 5,241 Net cash used in investing activities (3,390 ) (1,468 ) Net cash (used)/generated from financing activities (2,486 ) 1,122 Note: On December 24, 2020, certain third parties made capital injections into Logistics Company Logistics Company Logistics Company |
Interest in associates
Interest in associates | 12 Months Ended |
Dec. 31, 2021 | |
Investments accounted for using equity method [abstract] | |
Interest in associates | 24 Interest in associates 2021 2020 Share of net assets 2,637 2,449 All the Group’s associates are unlisted without quoted Proportion of ownership Place of / operation Group’s effective interest The Company Subsidiaries Proportion of voting rights held by the Group Principal activity China Southern Airlines Group Finance Company Limited (“Finance Company”) PRC 48.59 % 41.81 % 6.78 % 48.59 % Provision of airlines financial services Sichuan Airlines Co.,Ltd. (“Sichuan Airlines”) PRC 39 % 39 % — 39 % Airline transportation Southern Airlines Culture and Media Co., Ltd.(“SACM”) PRC 40 % 40 % — 40 % Advertising services Shenyang Konggang Logistic Co.,Ltd. (“Shenyang Konggang”) PRC 45 % 45 % — 45 % Ground services Beijing Xingming Lake Jinyan Hotel Co., Ltd. PRC 49 % — 49 % 49 % Catering and Shangzhou Aviation Logistics Co., Ltd. PRC 37.90 % — 37.90 % 37.90 % Airline transportation Beijing Airport Inflight Kitchen Co.,Ltd. PRC 30 % 30 % — 30 % Air catering services Xinjiang Civil Aviation Property Management Limited PRC 42.80 % 42.80 % — 42.80 % Property management There is no associate that is individually material to the Group. The Group has interest in a number of individually immaterial associates that are accounted for using the equity method. The aggregate financial information of these associates is summarized as following: 2021 RMB million 2020 RMB million 2019 RMB million Aggregate carrying amount of individually immaterial associates 2,637 2,449 3,322 Aggregate amounts of the Group’s share of: Profit/(loss) from continuing operations 9 (776 ) (178 ) Other comprehensive income 1 (5 ) 3 Total comprehensive income 10 (781 ) (175 ) |
Interest in joint ventures
Interest in joint ventures | 12 Months Ended |
Dec. 31, 2021 | |
Investments accounted for using equity method [abstract] | |
Interest in joint ventures | 25 Interest in joint ventures 2021 2020 Share of net assets 3,341 3,225 All the Group’s joint ventures are unlisted without quoted market price. The particulars of the Group’s principal joint ventures as at December 31, 2021 are as follows: Proportion of ownership Place of establishment/ operation Group’s effective interest The Company Subsidiaries Proportion of voting rights held by the Group Principal activity Guangzhou Aircraft Maintenance Engineering Co.,Ltd. (“GAMECO”) PRC 50 % 50 % — 50 % Aircraft repair and MTU Maintenance Zhuhai Co., Ltd. (“MTU”) PRC 50 % 50 % — 50 % Aircraft repair and There is no joint venture that is individually material to the Group. The Group has interest in a number of individually immaterial joint ventures that are accounted for using the equity method. The aggregate financial information of these joint ventures is summarized as follows: 2021 RMB million 2020 RMB million 2019 RMB million Aggregate carrying amount of individually immaterial joint ventures 3,341 3,225 3,124 Aggregate amounts of the Group’s share of: Profit from continuing operations and total comprehensive income 271 309 365 |
Financial assets
Financial assets | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Financial assets | 26 Financial assets Notes 2021 2020 Other equity instrument investments (FVOCI) (i) - Non-listed 40 100 - Non-tradable 523 699 563 799 Other non-current (i) - Listed shares 68 64 - Non-listed 27 28 Other non-current (ii) - Long-term receivables 494 — 589 92 Notes: (i) Dividend income generated from the investments amounted to RMB4 million for the year of 2021 in total (2020: RMB23 million). (ii) During the year ended December 31, 2021, the Group derecognized certain aircraft under finance lease agreements as a lessor and recognized long-term receivables. As at December 31, 2021, long-term receivables (including the portion due within one year) was RMB783 million (Note 19(c)), among which RMB183 million was recorded in the amounts due from related parties (Note 42(a)). |
Derivative financial liabilitie
Derivative financial liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Derivative financial liabilities | 27 Derivative financial liabilities Notes 2021 RMB million 2020 RMB million Current liabilities: Forward foreign exchange and foreign exchange options contracts (i) — 56 Derivative component of convertible bonds (ii i 1,222 3,092 1,222 3,148 Non-current Interest rate swaps (ii) -Measured at FVOCI — 42 -Measured at FVPL 20 11 20 53 Notes: (i) The Group entered into forward foreign exchange and foreign exchange options contracts to mitigate its forward currency risk and all the forward foreign exchange and foreign exchange options contracts have been settled in 2021. As at December 31, 2020, the fair value of the forward foreign exchange and foreign exchange options contracts amounted to RMB56 million was recognized in liabilities, with notional principal amounted to USD400 million. (ii) In 2015, the Group entered into interest rate swaps to mitigate its cash flow interest rate risk. The interest rate swaps allow the Group to pay at fixed rate from 1.64% to 1.72% per annum to receive LIBOR. The notional principal of the outstanding interest rate swap contracts as at December 31, 2021 amounted to USD 190 million (December 31, 2020: USD258 million). (i ii In October 2020, the Group issued a total of 160,000,000 A share convertible bonds with par value of RMB100 each at par. The convertible bonds have a term of six years from the date of the issuance and the convertible bonds bear interest at the annual rate of 0.2% in the first year, 0.4% in the second year, 0.6% in the third year, 0.8% in the fourth year, 1.5% in the fifth year and 2.0% in the sixth year. Interest is paid once a year. Conversion rights are exercisable from April 21 , , Any excess of proceeds over the fair value amount initially recognized as the derivative component is recognized as the host liability component. Transaction costs related to the issuance of the convertible bonds are allocated to the host liability and are recognized initially as part of the liability. The derivative component is subsequently remeasured at fair value while the host liability component is subsequently carried at amortized cost using the effective interest method (Note 36(a)). For the year ended December 31, 2021, 101,034,070 convertible bonds were converted to A shares at the conversion price of RMB 6.24 per share, RMB 1,619 million was credited to share capital. As at December 31, 2021, the carrying amount of liability component of the remaining 58,965,930 A share convertible bonds was RMB 4,992 million (December 31, 2020: 160,000,000 A share convertible bonds with a carrying amount of RMB 12,833 million) (Note 36(a)), and the fair value of the derivative component of remaining 58,965,930 A share convertible bonds was RMB1,222 million (December 31, 2020: 160,000,000 A share convertible bonds with fair value of RMB 3,092 million). For the year ended December 31, 2021, the loss on the changes in fair value of the derivative component amounted to RMB 269 million was recognized (December 31, 2020: gain on the changes in fair value amounted to RMB 201 million) (Note 28). |
Changes in fair value of financ
Changes in fair value of financial assets / (liabilities) | 12 Months Ended |
Dec. 31, 2021 | |
Statement of changes in equity [abstract] | |
Changes in fair value of financial assets / (liabilities) | 28 Changes in fair value of financial liabilities 2021 2020 Other non-current 3 (14 ) Interest rate swaps measured at FVPL 17 (11 ) Forward foreign exchange and foreign exchange options contracts (60 ) (107 ) Derivative component of convertible bonds (Note 27(iii)) (269 ) 201 Cross currency swaps — (16 ) (309 ) 53 |
Deferred tax assets _ (liabilit
Deferred tax assets / (liabilities) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Deferred tax assets/(liabilities) | 29 Deferred tax assets / (liabilities) (a) Movements of net deferred tax assets are as follows: At December 31, 2020 RMB million (Charged)/ credited to consolidated income statement RMB million (Charged)/ comprehensive income RMB million At December 31, 2021 RMB million For the year ended December 31, 2021 Deferred tax assets: Net effect on right-of-use 1,307 268 — 1,575 Accrued expenses 1,456 86 — 1,542 Provision for major overhauls 361 122 — 483 Contract liabilities/other non-current 57 (1 ) — 56 Provision for impairment losses 1,118 375 — 1,493 Provision for tax losses 4,288 3,805 — 8,093 Change in fair value of derivative financial liabilities 10 22 (10 ) 22 Change in fair value of other equity instrument investments — — 15 15 Depreciation allowances under tax in excess of the related depreciation under accounting — 74 — 74 Others 130 12 — 142 8,727 4,763 5 13,495 Deferred tax liabilities: Accrued expenses (144 ) 138 — (6 ) Depreciation allowances under tax in excess of the related depreciation under accounting (669 ) 150 — (519 ) Change in fair value of other equity instrument investments (166 ) — 45 (121 ) Change in fair value of other non-current (16 ) (1 ) — (17 ) Change in fair value of derivative financial liabilities (34 ) 34 — — Fair value re-measurement (27 ) 2 — (25 ) Others (12 ) 2 — (10 ) (1,068 ) 325 45 (698 ) Net deferred tax assets 7,659 5,088 50 12,797 (a) Movements of net deferred tax assets are as follows: (continued) At December 31, 2019 RMB million (Charged)/ credited to consolidated income statement Credited to other comprehensive income RMB million At December 31, 2020 RMB million For the year ended December 31, 2020 Deferred tax assets: Net effect on right-of-use 1,823 (516 ) — 1,307 Accrued expenses 1,114 342 — 1,456 Provision for major overhauls 262 99 — 361 Contract liabilities/other non-current 68 (11 ) — 57 Provision for impairment losses 81 1,037 — 1,118 Provision for tax losses 7 4,281 — 4,288 Change in fair value of derivative financial liabilities — — 10 10 Others 114 16 — 130 3,469 5,248 10 8,727 Deferred tax liabilities: Accrued expenses (191 ) 47 — (144 ) Depreciation allowances under tax in excess of the related depreciation under accounting (478 ) (191 ) — (669 ) Change in fair value of derivative financial assets (1 ) — 1 — Change in fair value of other equity instrument investments (229 ) — 63 (166 ) Change in fair value of other non-current (20 ) 4 — (16 ) Change in fair value of derivative financial liabilities (54 ) 20 — (34 ) Fair value re-measurement (29 ) 2 — (27 ) Others (14 ) 2 — (12 ) (1,016 ) (116 ) 64 (1,068 ) Net deferred tax assets 2,453 5,132 74 7,659 Deferred tax assets arise from deductible temporary differences and unused tax losses are recognized to the extent that it is probable that future taxable profits will be available against which the related tax benefit can be utilized. The Group’s tax losses in the PRC are available for carrying forward to set off future assessable income for a maximum period of five or eight years (According to the Notice of the Ministry of Finance on the Taxation Policy for supporting the prevention of pandemic of Covid-19 (b) Reconciliation to the consolidated statement of financial position: 2021 RMB million 2020 RMB million Net deferred tax asset recognized 12,823 7,739 Net deferred tax liability recognized (26 ) (80 ) 12,797 7,659 (c) Deferred tax assets not recognized The Group’s unused tax losses of RMB3,020 million (2020: RMB1,058 million) have not been recognized as deferred tax assets, as it was determined by management that it is not probable that future taxable profits against which the losses can be utilized will be available before they expire. The expiry dates of unrecognized unused tax losses are analyzed as follows: 2021 RMB million 2020 RMB million Expiring in : 2021 — 92 2022 82 82 2023 109 110 2024 336 337 2026 1,515 — 2028 978 437 3,020 1,058 As at December 31, 2021, the Group’s other deductible temporary differences amounting to RMB1,094 million (December 31, 2020: RMB819million) have not been recognized as deferred tax assets as it was determined by management that it is not probable that future taxable profits will be available for these deductible temporary differences to reverse in the foreseeable future. |
Other assets
Other assets | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other assets | 30 Other assets Software RMB million Leasehold improvements RMB million Others RMB million (Note) Total RMB million At January 1, 2020 482 251 1,246 1,979 Additions 70 46 804 920 Transferred from construction in progress 277 79 — 356 Amortisation for the year (221 ) (92 ) (65 ) (378 ) At December 31, 202 0 608 284 1,985 2,877 At January 1, 202 1 608 284 1,985 2,877 Additions 83 43 253 379 Transferred from construction in progress 474 28 — 502 Disposal — (7 ) (4 ) (11 ) Amortisation for the year (330 ) (105 ) (83 ) (518 ) Provision for impairment losses — (18 ) — (18 ) At December 31, 2021 835 225 2,151 3,211 Note: As at December 31, 2021, the amounts include prepayments of RMB 1,302 million made to related parties for acquisition of long-term assets (December 31, 2020: RMB1,222 million) ( Notes |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Inventories | 31 Inventories 2021 RMB million 2020 RMB million Consumable spare parts and maintenance materials 1,559 1,613 Other supplies 173 219 1,732 1,832 Less: provision (80 ) (72 ) 1,652 1,760 Provision for inventories is shown as below: 2021 RMB million 2020 RMB million At January 1 72 54 Provision for inventories 17 56 Written - (9 ) (38 ) At December 31 80 72 |
Trade and Other receivables
Trade and Other receivables | 12 Months Ended |
Dec. 31, 2021 | |
Statement [LineItems] | |
Trade and Other receivables | 32 Trade receivables 2021 RMB million 2020 RMB million Trade receivables 2,897 2,568 Less: loss allowance (39 ) (43 ) 2,858 2,525 (a) Ageing analysis Credit terms granted by the Group to sales agents and other customers generally range from one to three months. Ageing analysis of trade receivables based on transaction date is set out below: 2021 RMB million 2020 RMB million Within 1 month 2,337 1,972 More than 1 month but less than 3 months 273 307 More than 3 months but less than 12 months 236 231 More than 1 year 51 58 2,897 2,568 Less: loss allowance (39 ) (43 ) 2,858 2,525 All of the trade receivables are expected to be recovered within one year. (b) Trade receivables by currencies The carrying amounts of the Group’s trade receivables are denominated in the following currencies: 2021 2020 RMB 2,631 2,446 USD 195 48 EURO 16 13 HKD 11 9 AUD 9 7 BDT 7 9 Others 28 36 2,897 2,568 |
Other receivables [member] | |
Statement [LineItems] | |
Trade and Other receivables | 33 Other receivables Notes 2021 RMB million 2020 VAT recoverable 7,854 6,072 Government grants receivables (i) 474 523 Rebate receivables on aircraft acquisitions 302 497 Other deposits 155 170 Others (ii) 972 1,244 9,757 8,506 Less: loss allowance (iii) (158 ) (159 ) 9,599 8,347 Notes: (i) Government grants receivables are recognized as there is reasonable assurance that they will be received and the Group has complied with the conditions attaching to them. (ii) The amounts include term deposits of RMB227 million (December 31, 2020: RMB287 million), which have a maturity over 3 months at acquisition. The weighted average annualized interest rate of term deposits as at December 31, 2021 was 1.95% (December 31, 2020: 2.07%). (iii) The Group lost control of Flying College in December 2020 (Note23(v)). As at December 31, 2021 and 2020, prepayment of training expenses made to Flying College amounting to |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Cash and cash equivalents | 34 Cash and cash equivalents (a) Cash and cash equivalents comprise: 2021 2020 Deposits in banks and other financial institutions 1 5 Cash at bank and other financial institutions and on hand 21,455 25,414 Cash and cash equivalents in the consolidated statement of financial position 21,456 25,419 The carrying amounts of the Group’s cash and cash equivalents are denominated in the following currencies: 2021 2020 RMB 20,457 24,947 USD 782 272 EURO 88 64 AUD 20 15 JPY 12 21 HKD 31 15 Others 66 85 21,456 25,419 (b) Reconciliation of (loss)/profit before income tax to cash generated from operating activities Note 2021 2020 2019 (Loss) / profit before income tax (13,910 ) (15,195 ) 4,055 Adjustments for: Depreciation and amortization 12 24,241 24,590 24,620 Impairment losses on property, plant, equipment 19 994 3,279 18 Impairment losses on right-of-use 21 1,585 682 — Impairment losses on other assets 30 18 — — Credit losses 11 (1 ) 164 13 Share of associates’ results 24 (9 ) 776 178 Share of joint ventures’ results 25 (271 ) (309 ) (365 ) Gain on disposal of property, plant and equipment and construction in progress 14 (363 ) (57 ) (140 ) Changes in fair value of financial assets/ liabilities 28 309 (53 ) (265 ) Remeasurement of the originally held equity interests in a joint venture — — (13 ) Interest income (675 ) (322 ) (74 ) Interest expense 15 6,202 6,716 5,845 Dividends income from other non-current 26 (4 ) (23 ) (23 ) Exchange (gain)/losses, net (1,524 ) (3,170 ) 1,268 Loss on disposal of a subsidiary 23(v) — 8 — Decrease / (increase) in inventories 31 108 133 (179 ) Decrease in contract liabilities and other non-current (85 ) (134 ) (337 ) (Decrease) / increase in sales in advance of carriage (281 ) (6,306 ) 1,709 (Decrease) / increase in deferred benefits and gains 46 (44 ) (64 ) 73 (Increase) / decrease in operating receivables (1,593 ) 1,408 1,165 Increase / (decrease) in operating payables 580 (1,396 ) 2,180 Cash generated from operating activities 15,277 10,727 39,728 (c) Reconciliation of liabilities arising from financing activities Bank loans and other borrowings RMB million Lease liabilities RMB million Interest rate swaps RMB million Derivative Total RMB million (Note 36) (Note 37) (Note 27) (Note 27) At January 1 , 78,233 121,213 53 3,092 202,591 Changes from financing cash flows: Proceeds from bank borrowings 76,910 — — — 76,910 Proceeds from corporate bonds 9,000 — — — 9,000 Proceeds from ultra-short-term financing bills 82,500 — — — 82,500 Repayment of bank borrowings (70,437 ) — — — (70,437 ) Repayment of ultra-short-term financing bills (68,900 ) — — — (68,900 ) Repayment of corporate bonds (3,749 ) — — — (3,749 ) Capital element of lease rentals paid(Note 34(d)) — (21,613 ) — — (21,613 ) Total changes from financing cash flows 25,324 (21,613 ) — — 3,711 Exchange adjustments — (1,474 ) — — (1,474 ) Changes in fair value — — (33 ) 269 236 Other changes: Increase in lease liabilities from entering into new leases during the year (Note 52) — 4,623 — — 4,623 Conversion of convertible bonds to ordinary shares (Note 52) (8,317 ) — — (2,139 ) (10,456 ) Amortization amount of convertible bonds 456 — — — 456 Accrued interest expense 571 — — — 571 Total other changes (7,290 ) 4,623 — (2,139 ) (4,806 ) At December 31, 2021 96,267 102,749 20 1,222 200,258 Bank loans and other borrowings Lease liabilities Interest rate swaps Cross currency swaps Derivative component of convertible bonds Total RMB million RMB million RMB million RMB million RMB million RMB million (Note 36) (Note 37) (Note 27) (Note 27) At January 1, 2020 51,180 134,074 (3 ) (187 ) — 185,064 Changes from financing cash flows: Proceeds from bank borrowings 71,841 — — — — 71,841 Proceeds from ultra-short-term financing bills 48,300 — — — — 48,300 Proceeds from corporate bonds 25,000 — — — — 25,000 Repayment of bank borrowings (52,601 ) — — — — (52,601 ) Repayment of ultra-short-term financing bills (59,800 ) — — — — (59,800 ) Repayment of corporate bonds (2,655 ) — — — — (2,655 ) Capital element of lease rentals paid(Note 34(d)) — (20,670 ) — — — (20,670 ) Total changes from financing cash flows 30,085 (20,670 ) — — — 9,415 Exchange adjustments 142 (3,526 ) — 171 — (3,213 ) Changes in fair value — — 56 16 (201 ) (129 ) Other changes: Increase in lease liabilities from entering into new leases during the year (Note 5 2 — 11,335 — — — 11,335 Amount initially recognized as the derivative component of convertible bonds (3,293 ) — — — 3,293 — Amortization amount of convertible bonds 119 — — — — 119 Total other changes (3,174 ) 11,335 — — 3,293 11,454 At December 31, 2020 78,233 121,213 53 — 3,092 202,591 (d) Total cash outflow for leases Amounts included in the cash flow statement for leases comprise the following: 2021 2020 2019 RMB million RMB million RMB million Within operating cash flows (5,794 ) (6,528 ) (7,457 ) Within investing cash flows (343 ) (45 ) (224 ) Within financing cash flows (21,613 ) (20,670 ) (17,784 ) (27,750 ) (27,243 ) (25,465 ) These amounts relate to the following: 2021 2020 2019 RMB million RMB million RMB million Lease rentals paid (27,407 ) (27,198 ) (25,241 ) Acquisition of land use rights (343 ) (45 ) (224 ) (27,750 ) (27,243 ) (25,465 ) |
Assets held for sale
Assets held for sale | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Assets held for sale | 35 Assets held for sale 2021 2020 RMB million RMB million Aircraft and other flight equipment 1,292 — As at December 31, 2021, assets held for sale represents certain aircraft and other flight equipment to be delivered. The carrying amount of the assets held for sale is RMB 1,292 million, including RMB 1,008 million of aircraft and other flight equipment (Note 19), and RMB 284 million of lease aircraft (Note 21). As at December 31, 2021, the transaction price with third party is higher than the carrying amount of the assets, and the sale is expected to be completed in 2022. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Borrowings | 36 Borrowings (a) Borrowings are analyzed as follows: 2021 2020 RMB million RMB million Non-current Long-term borrowings 15,389 8,811 Corporate bonds (Note (ii)) 1,000 7,500 Convertible bonds (Note 27(iii)) 4,984 12,833 Medium-term notes (Note (iii)) 16,981 8,990 38,354 38,134 Current Current portion of long-term 169 67 Short-term borrowings 25,116 25,286 Ultra-short-term financing bills 24,710 10,999 Current portion of corporate bonds and medium-term notes (Notes (ii)&(iii)) 7,910 3,747 Current portion of convertible bonds (Note 27(iii)) 8 — 57,913 40,099 Total borrowings 96,267 78,233 The borrowings are repayable: Within one year 57,913 40,099 In the second year 18,611 7,662 In the third to fifth year 16,747 14,394 After the fifth year 2,996 16,078 Total borrowings 96,267 78,233 (a) Borrowings are analyzed as follows (continued): Notes: (i) As at December 31, 2021, the Group did not have any secured bank borrowings (December 31, 2020: Nil). (ii) The Company issued corporate bonds with aggregate nominal value of RMB5,000 million on May 25 , The Company issued corporate bonds with aggregate nominal value of RMB2,000 million on November 26 , The Company issued corporate bonds with aggregate nominal value of RMB3,000 million on February 21 , years. As at December 31, 2021, the corporate bonds will mature within 1 year. The Company issued corporate bonds with aggregate nominal value of RMB2,000 million on May 16, 2019 at a bond rate of 3.72 % per annum with a term of 3 years. As at December 31, 2021, the corporate bonds will mature within 1 year. Xiamen Airlines, a subsidiary of the Group, issued corporate bonds with aggregate nominal value of RMB1,500 million on November 20, 2019 at a bond rate of 3.58% per annum with a term of 3 years. As at December 31, 2021, the corporate bonds will mature within 1 year. Xiamen Airlines issued corporate bonds with aggregate nominal value of RMB1,000 million on March 16, 2020 at a bond rate of 2.95% per annum with a term of 3 years. As at December 31, 2021, the corporate bonds will mature over 1 year. (iii) The Company issued medium-term notes with aggregate nominal value of RMB1,000 million in 2019 at an annual interest rate of 3.20% with a term of 3 years. As at December 31, 2021, the medium-term notes will mature within 1 year. The Company issued medium-term notes with aggregate nominal value of RMB8,000 million in 2020 at annual interest rates ranging from 2.44% to 3.28% with terms of 3 to 5 years. As at December 31, 2021, the medium-term notes will mature over 1 year. The Company issued medium-term notes with aggregate nominal value of RMB9,000 million in 2021 at annual interest rates ranging from 2.90% to 3.20% with terms of 3 years. As at December 31, 2021, the medium-term notes will mature over 1 year. (b) As at December 31, 2021, the Group’s weighted average interest rates on short-term borrowings were 2.20% per annum (December 31, 2020: 2.23% per annum). (c) Details of borrowings with original maturity over one year are as follows: 2021 2020 RMB million RMB million Renminbi denominated borrowings Fixed interest rate at 1.20%~4.00% per annum as at December 31, 2021 12,483 8,028 Corporate bond - Fixed interest rate at 2.95%~3.72% 7,666 9,649 Convertible bond - Fixed interest rate (Note27(iii)) 4,992 12,833 Medium-term notes - Fixed interest rate at 2.44%~3.28% 18,225 10,588 Floating interest rates at 74%~92% of benchmark interest rate (stipulated by PBOC) as at December 31, 2021 3,075 850 46,441 41,948 Less: borrowings due within one year classified as current liabilities (8,087 ) (3,814 ) 38,354 38,134 (d) The carrying amounts of the borrowings are denominated in the following currencies: 2021 2020 RMB million RMB million Renminbi 96,267 78,233 (e) The balance of long-term borrowings as at December 31, 2021 included entrusted loans from CSAH via Finance Company to the Group amounted t (f) Certain of the Group’s banking facilities are subject to the fulfilment of covenants relating to certain of the Group’s consolidated statement of financial position ratios, as are commonly found in lending arrangements with financial institutions. If the Group were to breach the covenants, the drawn down facilities would become payable on demand. The Group regularly monitors its compliance with these covenants. Further details of the Group’s management of liquidity risk are set out in Note 4(a). As at December 31, 2021 and 2020, none of the covenants relating to drawn down facilities had been breached. |
Lease liabilities
Lease liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Lease liabilities [abstract] | |
Lease liabilities | 37 Lease liabilities At December 31, 2021, the lease liabilities were payable as follows: 2021 2020 RMB million RMB million Within 1 year 20,805 20,930 After 1 year but within 2 years 19,229 20,045 After 2 years but within 5 years 38,950 47,164 After 5 years 23,765 33,074 102,749 121,213 Obligations by denominated currencies For the year ended December 31, 2021 Effective USD RMB million Japanese RMB million Renminbi RMB million Euro RMB million Other RMB million Total RMB million Fixed interest rates 1.78%~4.90% 38,254 9 12,780 8 19 51,070 Floating interest rates 0.42%~5.22% 5,524 514 43,091 2,550 — 51,679 43,778 523 55,871 2,558 19 102,749 Obligations by denominated currencies For the year ended December 31, 2020 Effective interest rate USD RMB million Japanese RMB million Renminbi RMB million Euro RMB million Other currencies RMB million Total RMB million Fixed interest rates 1.75 % ~ % 43,519 6 10,268 14 16 53,823 Floating interest rates 0 % ~ % 9,343 1,019 53,659 3,243 126 67,390 52,862 1,025 63,927 3,257 142 121,213 The Group has significant lease liabilities which are denominated in USD as at December 31, 2021. The net exchange gain of RMB1,575 million for the year ended December 31, 2021 (2020: net exchange gain of RMB3,485 million; 2019: net exchange loss of RMB1,477 million) was mainly attributable to the translation of balances of lease liabilities which are denominated in USD. |
Trade payables
Trade payables | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Trade payables | 38 Trade payables Ageing analysis of trade payables based on transaction date is set out below: 2021 2020 RMB million RMB million Within 1 month 403 431 More than 1 month but less than 3 months 221 473 More than 3 months but less than 6 months 221 313 More than 6 months but less than 1 year 268 329 More than 1 year 215 236 1,328 1,782 The carrying amounts of the Group’s trade payables are denominated in the following currencies: 2021 2020 RMB million RMB million Renminbi 891 1,587 USD 431 165 Others 6 30 1,328 1,782 |
Contract liabilities
Contract liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Contract liabilities | 39 Contract liabilities 2021 2020 RMB million RMB million Unredeemed credits under the frequent flyer award programs (Note) 1,459 1,451 Others 83 62 1,542 1,513 Note: As at December 31, 2021, unredeemed credits under the frequent flyer award programs represent the aggregated amounts of the transaction price allocated to the remaining performance obligation, which is expected to be recognized as revenue in the future when the customers obtain control of the goods or services. Movement of unredeemed credits under the frequent flyer award programs is set out below: 2021 2020 RMB million RMB million Balance at January 1 3,196 3,331 -Current 1,451 1,568 -Non-current 1,745 1,763 Addition as a result of increase of the unredeemed credits under the frequent flyer award programs 1,628 1,270 Reduction as a result of revenue recognized during the year (1,763 ) (1,405 ) -Recognized as revenue from opening balance of contract liabilities (1,344 ) (1,192 ) -Recognized as revenue from current year addition of contract liabilities (419 ) (213 ) Balance at December 31 3,061 3,196 Representing: -Current 1,459 1,451 -Non-current 1,602 1,745 |
Sales in advance of carriage
Sales in advance of carriage | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Sales in advance of carriage | 40 Sales in advance of carriage As at December 31, 2021, the amount of sales in advance of carriage represents revenue expected to be recognized in the future when the customers obtain control of and accept the passenger transportation services to be provided by the Group. During the year, RMB2,528 million (2020: RMB6,564 million) which was included in the opening balance of the sales in advance of carriage was recognized as revenue, and RMB1,267 million was refunded to the customers when it’s applicable to the Covid-19 |
Other non-current liabilities
Other non-current liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other non-current liabilities | 41 Other non-current 2021 2020 Note RMB million RMB million Unredeemed credits under the frequent flyer award programs 39 1,602 1,745 Long-term payables (Note) 193 291 Others 29 — 1,824 2,036 Note: In 2020, the Group disposed certain aircraft through sale and leaseback agreement, and the long-term payables were additional financing provided by buyer-lessor to the Group in aircraft sale and leaseback transactions. As at December 31, 2021, long-term payables of RMB193 million (December 31, 2020: RMB 291 million) were additional financing provided by buyer-lessor to the Group in aircraft sale and leaseback transactions, and the current portion of long-term payables of RMB98 million (December 31, 2020: RMB 94 million) was recorded in other liabilities. |
Balances with related companies
Balances with related companies | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Balances with related companies | 42 Balances with related companies (a) Amounts due from related companies 2021 2020 Note RMB million RMB million Current CSAH and its affiliates 14 10 Associates 72 57 Joint ventures 28 18 Other related company 1 — 50(c) 115 85 2021 2020 RMB million RMB million Non-current Associates 50(c) 151 — The amounts due from associates include long-term receivables of RMB183 million (including the portion due within one year) relating to a finance lease arrangement (Note(26)(ii)). Other than that, the remaining amounts due from related companies are unsecured, interest free and have no fixed terms of repayment. They are expected to be recovered within one year. (b) Prepayments to related companies for acquisition of long-term assets 2021 2020 Note RMB million RMB million Non-current CSAH and its affiliates 719 639 Associates 495 495 Joint ventures 88 88 30&50(c) 1,302 1,222 (c) Amounts due to related companies 2021 2020 Note RMB million RMB million Current CSAH and its affiliates 174 225 Associates 14 13 Joint ventures 175 119 50(c) 363 357 The amounts due to related companies are unsecured, interest free and have no fixed terms of repayment. They are expected to be settled within one year. |
Accrued expenses
Accrued expenses | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Accrued expenses | 43 Accrued expenses 2021 2020 RMB million RMB million Repairs and maintenance 5,477 5,268 Salaries and welfare 4,457 4,328 Landing and navigation fees 1,855 2,121 Jet fuel costs 1,524 961 Computer reservation services 457 575 Provision for major overhauls (Note 45) 124 426 Air catering expenses 75 74 Interest expense — 512 Others 1,510 1,655 15,479 15,920 |
Other liabilities
Other liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other liabilities | 44 Other liabilities 2021 2020 RMB million RMB million Payable for purchase of property, plant and equipment 3,420 3,432 Civil Aviation Development Fund and airport tax payable 714 885 Sales agent deposits 446 485 Other taxes payable 501 328 Deposit received for chartered flights 259 239 Others 2,438 2,104 7,778 7,473 |
Provision for major overhauls
Provision for major overhauls | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Provision for major overhauls | 45 Provision for major overhauls Details of provision for major overhauls in respect of aircraft held under leases are as follows: 2021 2020 RMB million RMB million At January 1 4,642 4,425 Additional provision 714 760 Utilization (412 ) (543 ) At December 31 4,944 4,642 Less: current portion (Note 43) (124 ) (426 ) 4,820 4,216 |
Deferred benefits and gains
Deferred benefits and gains | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Deferred benefits and gains | 46 Deferred benefits and gains 2021 2020 RMB million RMB million Maintenance rebates 485 531 Government grants 233 229 Others 7 9 725 769 |
Share capital
Share capital | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Share capital | 47 Share capital 2021 2020 RMB million RMB million Registered, issued and paid up capital: Trade-restricted: 2,453,434,457 A shares of RMB1.00 each owned by CSAH (2020: 2,942,637,115 shares of RMB1.00 each) (Note 2,453 2,942 0 H shares of RMB1.00 each (2020: 1,209,621,577 shares of RMB1.00 each) (Note — 1,210 2,453 4,152 Tradable: 6,147,463,051 A shares of RMB1.00 each owned by CSAH (2020: 4,039,228,665 shares of RMB1.00 each) (Notes (ii) & (iii)) 6,147 4,039 4,072,395,671 4,073 4,073 4,275,144,849 H shares of RMB1.00 each (Note 4,275 3,065 14,495 11,177 16,948 15,329 Notes: (i) All the A and H shares rank pari passu in all material respects. (ii) For the year ended December 31, 2021, 101,034,070 convertible bonds were converted to A shares at the conversion price of RMB6.24 per share. RMB1,619 million was credited to share capital and RMB8,837 million was credited to share premium respectively. (iii) In September 2018, the Company issued 1,578,073,089 A shares (“2018 A shares”) to CSAH and other six entities, and the 2018 A shares issued to CSAH are restricted for trading within 36 months upon completion of the issuance. During the year ended December 31, 2021 (iv) In September 2018 and April 2020, the Company issued 600,925,925 H shares (“2018 H shares”) and 608,695,652 H shares (“2020 H shares”) to a fellow subsidiary of CSAH. Considering that the 2018 H shares and the 2020 H shares are not subject to restrictions on sales in nature, the 2018 H shares and the 2020 H shares were reclassified from trade-restricted shares to tradable shares during the year ended December 31, 2021. |
Reserves
Reserves | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Reserves | 48 Reserves (a) Dividends The directors did not propose any final dividend in respect of the years ended December 31, 2021 and 2020. (b) Share premium The share premium represents the difference between the par value of the shares of the Company and consideration for the shares issued (c) Fair value reserve (recycling) The fair value reserve (recycling) mainly comprises the hedge reserve which comprises the effective portion of the cumulative net change in the fair value of hedging instruments used in cash flow hedges pending subsequent recognition of the hedged cash flow in accordance with the accounting policy adopted for cash flow hedges in Note 2(g) and share of an associate’s cumulative net change in the fair value of debts investments measured at FVOCI. (d) Fair value reserve (non-recycling) The fair value reserve (non-recycling) (e) Other reserves Other reserves mainly comprise statutory surplus reserve. According to the PRC Company Law and the Articles of Association of the Company and its certain subsidiaries, the Company and the relevant subsidiaries are required to transfer 10% of their annual net profits after taxation, as determined under the PRC accounting rules and regulations, to a statutory surplus reserve until the reserve balance reaches 50% of the registered capital. The transfer to this reserve must be made before distribution of dividend to shareholders and when there are retained earnings at the end of the financial year. Statutory surplus reserve can be used to offset prior years’ losses, if any, and may be converted into share capital by the issue of new shares to shareholders in proportion to their existing shareholding or by increasing the par value of the shares currently held by them, provided that the balance after such issue is not less than 25% of the registered capital. For the year ended December 31, 2021, the Company did not make any appropriation of statutory surplus reserve as the Company recorded a net loss in 2021 (2020: Nil). |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Commitments | 49 Commitments (a) Capital commitments Capital commitments outstanding as at December 31, 2021 not provided for in the financial statements were as follows: 2021 2020 RMB million RMB million Commitments in respect of aircraft and flight equipment – authorized and contracted for 54,662 56,547 Investment commitments – authorised and contracted for – share of capital commitments of a joint venture 185 405 – capital contributions for acquisition of interests in an associate 171 — – authorized but not contracted for – share of capital commitments of a joint venture 24 26 380 431 Commitments for other property, plant and equipment – authorized and contracted for 3,796 4,970 – authorized but not contracted for 5,785 5,479 9,581 10,449 64,623 67,427 As at December 31, 2021, the approximate total future payments, including estimated amounts for price escalation through anticipated delivery dates for aircraft and flight equipment are as follows: 2021 2020 RMB million RMB million 2021 — 28,382 2022 33,165 15,033 2023 15,093 11,910 2024 6,404 1,222 54,662 56,547 |
Material related party transact
Material related party transactions | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Material related party transactions | 50 Material related party transactions (a) Key management personnel remuneration Remuneration for key management personnel of the Group, including amounts paid to the Company’s directors (excluding independent non-executive 2021 2020 2019 RMB ’000 RMB ’000 RMB ’000 Salaries, wages and welfare 12,353 10,746 13,803 Retirement scheme contributions 1,854 1,458 1,785 14,207 12,204 15,588 2021 2020 2019 RMB ’000 RMB ’000 RMB ’000 Directors and supervisors (Note 5 8 1,733 1,590 1,298 Senior management 12,474 10,614 14,290 14,207 12,204 15,588 Total remuneration is included in “staff costs” (Note 13). (b) Transactions with CSAH and its affiliates, associates, joint ventures and other related companies of the Group The Group provided various operational services to CSAH and its affiliates, associates, joint ventures and other related companies of the Group during the normal course of its business. The Group also received operational services provided by these entities. Details of the significant transactions carried out by the Group are as follows: 2021 2020 2019 Note RMB million RMB million RMB Income from CSAH and its affiliates Rental income (i) 7 7 7 Aviation material sales income (ii) 4 7 36 Entrusted management income (iii) 39 27 27 Commission income (iv) 18 5 14 Others 4 2 1 Purchase of goods and services from CSAH and its affiliates Commission expenses (v) 39 36 44 Maintenance material purchase expense and lease charges for maintenance material s (ii) 106 91 165 Air catering supplies expenses (i) 84 88 142 Lease charges for land and buildings (vi) 407 350 353 Property management fee (vii) 154 129 151 Others 8 7 7 Purchase of goods and services from joint ventures and associates Repairing charges (viii) 2,474 1,773 2,442 Repairing charges and maintenance material purchase expenses (ix) 2,124 2,331 2,956 Ground service expenses (x) 13 131 112 Air catering supplies (xi) 3 18 93 Advertising expenses (xii) 131 169 196 Property management fee (xiii) 17 18 26 Lease charges for land and buildings (xiv) 14 — — Commission expenses (xv) 6 10 14 Others 50 16 7 Income received from joint ventures and associates Maintenance material sales and handling income (xvi) 30 14 7 Entrustment income for advertising media business (xii) 2 2 1 Repairing income (xv) 12 12 4 Air catering supplies income (xv) 10 8 35 Pilot training income (xv) 19 15 35 Ground service income (xv)&(xviii) 18 16 16 Transfer of pilots income (xv) 24 — — Aircraft leasing income (xvii) 4 — — Labor service income and rental income (xix) — — 8 Others 15 9 15 (b) Transactions with CSAH and its affiliates, associates, joint ventures and other related companies of the Group (continued) 2021 2020 2019 Note RMB RMB RMB Purchase of goods and services from other related companies Computer reservation services (xx) 465 433 685 Aviation supplies expenses (xxi) — — 53 Canteen service (xxi) — — 24 Others — — 9 Aircraft related transactions with CSAH and its affiliates Payment of lease charges on aircraft (xxii) 5,323 4,670 2,696 (i) Shenzhen Air Catering Co., Ltd. (“SACC”) is an associate of CSAH. Air catering supplies expenses are payable by the Group in respect of certain in-flight In addition, the Group leased certain land and buildings, equipment to SACC under operating lease agreements. (ii) China Aviation Supplies Holding Company (“CASC”) is an associate of CSAH. The Group purchases software service, as well as purchases and leases maintenance materials from CASC, and CASC also purchases maintenance materials from the Group. (iii) China Northern Airlines Co., Ltd. (“CNAC”) is a wholly-owned subsidiary of CSAH. The Group provides entrusted management service to CSAH and CNAC. (iv) China Southern Airlines Insurance Brokerage Co., Ltd. (“SAIB”), is a wholly-owned subsidiary of CSAH. The Group provides certain website resources to SAIB for the sales of air insurance. (v) Commission is earned by Shenzhen Baiyun Air Service Co.,Ltd., a wholly-owned subsidiary of CSAH, in connection with the air tickets sold by them on behalf of the Group. Commission is calculated based on the rates stipulated by the Civil Aviation Administration of China and International Air Transportation Association. (vi) The Group leases certain land and buildings in the PRC from CSAH and its affiliates. The amount represents rental expenses for land and buildings paid or payable to CSAH and its affiliates. (b) Transactions with CSAH and its affiliates, associates, joint ventures and other related companies of the Group (continued) (vii) China Southern Airlines Group Property Management Co., Ltd., a wholly-owned subsidiary of CSAH, and COHL&CSAH Construction Development Co.,Ltd., a joint venture of CSAH, both provide property management services to the Group. (viii) MTU, a joint venture of the Group, provides comprehensive maintenance services to the Group. (ix) GAMECO, a joint venture of the Group, and Shenyang Aircraft Maintenance, a former joint venture of the Group, both provide comprehensive maintenance services and leases maintenance materials to the Group. Shenyang Aircraft Maintenance became a wholly-owned subsidiary of the Group on April 23, 2019. The Group also purchases maintenance material from GAMECO. (x) Beijing Aviation Ground Services Co.,Ltd. and Shenyang Konggang, associates of the Group provide ground services to the Group. (xi) Beijing Airport Inflight Kitchen Co.,Ltd. is an associate of the Group and provides air catering related services to the Group. (xii) SACM, an associate of the Group, provides advertising services to the Group. The Group provides certain media resources to SACM. (xiii) Xinjiang Civil Aviation Property Management Ltd., an associate of the Group, provides property management services to the Group. (xiv) Beijing Xingming Lake Jinyan Hotel Co., Ltd. an associate of the Group, provides land and buildings lease services to the Group. (xv) The Group provides repairing service and air catering supplies service to Sichuan Airlines. Commission is earned by Sichuan Airlines in connection with the air tickets sold on behalf of the Group. In addition, the Group provides pilot training service, ground services and transferred pilots to Sichuan Airlines. (xvi) The Group imports and sells maintenance materials to GAMECO and MTU, and earns maintenance materials sales and handling income. (xvii) The Group provides aircraft lease service to Sichuan Airlines and earns aircraft leasing income. (xviii) The Group provides ground services to Shenyang Konggang, which is an associate of the Group. (xix) The Group provides labor service to Shenyang Aircraft Maintenance, and the charge rates are determined by reference to prevailing market price. In addition, the Group leases certain property and equipment to Shenyang Aircraft Maintenance. (b) Transactions with CSAH and its affiliates, associates, joint ventures and other related companies of the Group (continued) (xx) China Travel Sky Holding Company is a related party of the Group as a key management personnel of the Group was appointed as the director of China Travel Sky Holding Company. It provides computer reservation services to the Group. (xxi) The chairman of Pearl Aviation Services is the key management personnel of the Company. The Group purchases aviation supplies and canteen services from Pearl Aviation Services. In December 2019, Pearl Aviation Services became a wholly-owned subsidiary of the Group. (xxii) China Southern Airlines International Finance Leasing Co., Ltd. (“CSA International”), originally a wholly owned subsidiary of CSAH, and became a joint venture of CSAH in 2019, provides aircraft and engines lease services to the Group. Also, the Group disposed aircraft to CSA International. (c) Balances with CSAH and its affiliates, associates, joint ventures and other related companies of the Group Details of amounts due from/to CSAH and its affiliates, associates, joint ventures and other related company of the Group: 2021 2020 Note RMB million RMB million Current receivables: CSAH and its affiliates 14 10 Associates 72 57 Joint ventures 28 18 Other related company 1 — 42(a) 115 85 2021 2020 Note RMB million RMB million Long-term receivables: Associates 151 — 42(a) 151 — 2021 2020 Note RMB million RMB million Prepayments of acquisition of long-term assets: CSAH and its affiliates 719 639 Associates 495 495 Joint ventures 88 88 30&42(b) 1,302 1,222 2021 2020 Note RMB million RMB million Payables: CSAH and its affiliates 174 225 Associates 14 13 Joint ventures 175 119 42(c) 363 357 2021 2020 Accrued expenses: CSAH and its affiliates 27 47 Associates 57 73 Joint ventures 1,277 1,927 Other related companies 612 459 1,973 2,506 Lease liabilities: The CSAH and its affiliates 24,084 26,789 Except the lease liabilities, the amounts due from/to CSAH and its affiliates, associates, joint ventures and other related companies of the Group are unsecured, interest-free and have no fixed terms of repayment. (d) Loans from and deposits placed with related parties (i) Loans from Finance Company At December 31, 2021, loans from Finance Company to the Group amounted to The unsecured loans are repayable as follows: 2021 2020 Within 1 year 2,978 1,515 After 1 year but within 2 years 40 111 After 2 years but within 5 years — 60 3,018 1,686 Interest expense paid on such loans amounted to RMB76 million (2020: RMB27 million) and the interest rates range from 3.00% to 3.30% per annum during the year ended December 31, 2021 (2020: 3.00% to 4.28%). (ii) Entrusted loans from CSAH In June 2021, CSAH, Finance Company and the Group entered into an entrusted loan agreement, pursuant to which, CSAH, as the lender, entrusted Finance Company to lend RMB1,000 million to the Group. In May and June 2020, the Group repaid the entrusted loan from CSAH which was obtained in previous year. As at December 31, 2021, the unsecured entrusted loans of RMB1,001 million (including accrued interest expense of RMB1 million) on repayable after 2 years but within 5 years (December 31, 2020: Nil) (Note 36(e)). Interest expense for the year ended December 31, 2021 on such loan amounted to RMB22 million (2020: RMB89 million) and the interest rate was 3.85% per annum (2020: 3.92% per annum). (iii) Convertible bonds subscribed by CSAH In October 2020, the Group issued a total of 160,000,000 A share convertible bonds with par value of RMB100 each at par, among which, CSAH subscribed for 101,027,580 of the convertible bonds. In June 2021, CSAH has converted all of the subscribed convertible bonds to A share ordinary shares. As at December 31, 2021, CSAH does not hold any convertible bonds issued by the Group. (iv) Medium-term notes subscribed by Finance Company In March 2020, the Group issued a tranche of medium-term notes in the amount of RMB1,000,000,000 with a term of 5 years from the issuance, date at an annual interest rate of 3.28 %, and Finance Company subscribed for of the medium-term notes. As at December 31, 2021, Finance Company holds (v) Deposits placed with Finance Company As at December 31, 2021, the Group’s deposits with Finance Company are presented in the table below. The applicable interest rates are determined in accordance with the rates published by the PBOC. 2021 2020 Deposits placed with Finance Company 12,621 9,092 Interest income received on such deposits amounted to RMB159 million during the year ended December 31, 2021 (2020: RMB91 million). |
Employee benefits plan
Employee benefits plan | 12 Months Ended |
Dec. 31, 2021 | |
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Employee benefits plan | 51 Employee benefits plan (a) Retirement benefits Employees of the Group participate in several defined contribution retirement schemes organized separately by the PRC municipal and provincial governments in regions where the major operations of the Group are located. The Group is required to contribute to these schemes at rates ranging from 14% to 16% (2020: 14% to 16%; 2019: 12% to 16%) of salary costs including certain allowances. A member of the retirement schemes is entitled to pension benefits from the Local Labor and Social Security Bureau upon his/her retirement. The retirement benefit obligations of all retired staff of the Group are assumed by these schemes. The Group, at its sole discretion, had made certain welfare subsidy payments to these retirees. In 2014, the Company and its major subsidiaries joined a new defined contribution retirement scheme (“Pension Scheme”) that was implemented by CSAH. The annual contribution to the Pension Scheme is based on a fixed specified percentage of prior year’s annual wage. There will be no further obligation beyond the annual contribution according to the Pension Scheme. The total contribution into the Pension Scheme in 2021 was approximately RMB998 million (2020: RMB1,043 million; 2019: RMB985 million). For the year ended December 31, 2021, there is no forfeited contribution under the retirement schemes and Pension Scheme which may be used by the Group to reduce the contribution payable in future years. (b) Housing benefits The Group contributes on a monthly basis to housing funds organized by municipal and provincial governments based on certain percentages of the salaries of employees. The Group’s liability in respect of these funds is limited to the contributions payable in each year. The Group also pays cash housing subsidies on a monthly basis to eligible employees. The monthly cash housing subsidies are charged to income statement. |
Supplementary information to th
Supplementary information to the consolidated cash flow statement | 12 Months Ended |
Dec. 31, 2021 | |
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Supplementary information to the consolidated cash flow statement | 52 Supplementary information to the consolidated cash flow statement Non-cash 2021 2020 Lease of aircraft 4,623 11,335 Convertible bonds converted to A shares 10,456 — |
Contingent liabilities
Contingent liabilities | 12 Months Ended |
Dec. 31, 2021 | |
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Contingent liabilities | 53 Contingent liabilities (a) The Group leased certain properties and buildings from CSAH which were located in Guangzhou, Wuhan, Haikou, etc. Although such properties and buildings were used by CSAH before being leased to the Group, as known to the Group, such properties and buildings lack adequate documentation evidencing CSAH’s rights thereto. Pursuant to the indemnification agreement dated May 22, 1997 entered into between the Group and CSAH, CSAH has agreed to indemnify the Group against any loss or damage arising from any challenge of the Group’s right to use the aforementioned properties and buildings. (b) The Group entered into certain agreements with CSAH in prior years to acquire certain land use right and buildings from CSAH. The change of business registration of such land use right and buildings are still in progress. CSAH issued letters of commitment to the Company, committing to indemnify the Group against any claims from third parties to the Group, or any loss or damage in the Group’s operation activities due to lack adequate documentation of the certain properties and buildings, without recourse to the Group. (c) The Company and its subsidiary, Xiamen Airlines, entered into agreements with certain pilot trainees and certain banks to provide guarantees on personal bank loans amounting to RMB696 million (December 31, 2020: RMB696 million) that can be drawn by the pilot trainees to finance their respective flight training expenses. As at December 31, 2021, total personal bank loans of RMB181 million (December 31, 2020: RMB221 million), under these guarantees, were drawn down from the banks. During the year, RMB2 million has been made by the Group due to the default of payments of certain pilot trainees (2020: Nil). |
Immediate and ultimate controll
Immediate and ultimate controlling party | 12 Months Ended |
Dec. 31, 2021 | |
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Immediate and ultimate controlling party | 54 Immediate and ultimate controlling party As at December 31, 2021, the Directors of the Company consider the immediate parent and ultimate controlling party of the Group to be CSAH, a state-owned enterprise established in the PRC. |
Approval of financial statement
Approval of financial statements | 12 Months Ended |
Dec. 31, 2021 | |
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Approval of financial statements | 55 Approval of financial statements The financial statements were approved by the Board of Directors on April 28, 202 2 |
Non-adjusting events after the
Non-adjusting events after the financial year end | 12 Months Ended |
Dec. 31, 2021 | |
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Non-adjusting events after the financial year end | 56 Non-adjusting On October 29, 2021, the Company entered into the Conditional Subscription Agreement in relation to the Subscription of the A Shares under the Non-public Issue of A Shares of the Company with CSAH, pursuant to which the Company proposed to issue 803,571,428 new A Shares to CSAH (“the A Share Issuance”). The total funds to be raised from the A Share Issuance will be not more than RMB4,500 million (including RMB4,500 million). The consideration shall be made by CSAH in full by cash. On October 29, 2021, the Company entered into the Conditional Subscription Agreement in relation to the Subscription of the H Shares under the Non-public Issue of H Shares of the Company with Nan Lung Holding Limited (“Nan Lung”), pursuant to which the Company proposed to issue not more t million). The consideration shall be made by Nan Lung in full by cash. Both of the A Share Issuance and the connected transaction contemplated under H Share Issuance were approved by the Extraordinary General Meeting of the Company on December 28, 2021. The Company announced that it had received the “Acceptance Notice of the Application for Administration Permission” issued by China Securities Regulatory Commission (“CSRC”) for the A Share Issuance and H share Issuance on January 10, 2022 and January 11, 2022, respectively. On March 18, 2022, the Company announced that it had received the Approval on Issuance of Overseas Listed Foreign Shares by China Southern Airlines Company Limited (Zheng Jian Xu Ke 2022 No. 497) issued by the CSRC. Up to the issuance date of these financial statements, the A Share Issuance is under review by CSRC. |
Impact of COVID-19 pandemic
Impact of COVID-19 pandemic | 12 Months Ended |
Dec. 31, 2021 | |
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Impact of COVID-19 pandemic | 57 Impacts of COVID-19 The COVID-19 The Group has been closely monitoring the impact of the developments on the Group’s business and has been proactively adjusting its business strategies. These strategies include: making adjustments to the scheduling of domestic and international routes and flights, according to the measures taken by related countries and regions on epidemic prevention and control; actively developing freight transport business and overall improving the utilization rate of freighters. |
Directors' and supervisors' emo
Directors' and supervisors' emoluments | 12 Months Ended |
Dec. 31, 2021 | |
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Directors' and supervisors' emoluments | 58 Directors’ and supervisors’ emoluments The remuneration of every director and supervisor for the year ended December 31, 2021 is set out below: Name Directors’ fees Salaries, wages and Housing Employer’s Total RMB ‘000 RMB ‘000 RMB ‘000 RMB ‘000 RMB ‘000 Executive directors Ma Xu Lun (Note (i)) — — — — — Han Wen Sheng (Note (i) — — — — — Supervisors Li Jia Shi ( Notes (ii)&(xii))) — — — — — Ren Ji Dong(Notes (iii)&(xiii)) — 667 — 131 798 Lin Xiao Chun — 655 — 147 802 Mao Juan (Note ( x — 478 — 134 612 Yang Bin (Note ( xi — 294 — 25 319 Independent non-executive directors Liu Chang Le (Note ( ix 133 — — — 133 Guo Wei (Note ( ix 133 — — — 133 Yan Yan (Note ( ix 133 — — — 133 Gu Hui Zhong 153 — — — 153 Tan Jin Song (Note ( viii 50 — — — 50 Jiao Shu Ge (Note ( viii 50 — — — 50 Zheng Fan (Note ( viii 20 — — — 20 The remuneration of every director and supervisor for the year ended December 31, 2020 is set out below: Directors’ fees Salaries, Housing Employer’s Total Name RMB ’000 RMB ’000 RMB ’000 RMB ’000 RMB ’000 Executive directors Wang Chang Shun ( Notes (i)&(vii)) — — — — — Ma Xu Lun (Note (i)) — — — — — Han Wen Sheng (Note (i)) — — — — — Supervisors Li Jia Shi (Note (ii)) — — — — — Mao Juan — 706 — 126 832 Lin Xiao Chun — 633 — 125 758 Independent non-executive Tan Jin Song 150 — — — 150 Jiao Shu Ge 150 — — — 150 Zheng Fan (Note (iv 60 — — — 60 Gu Hui Zhong (Note (iv 60 — — — 60 The remuneration of every director and supervisor for the year ended December 31, 2019 is set out below: Name Directors’ fees Salaries, Housing Employer’s a retirement Total RMB ‘000 RMB ‘000 RMB ‘000 RMB ‘000 RMB ‘000 Executive directors Wang Chang Shun (Note (i)) — — — — — Ma Xu Lun ( Notes (i)&(v) — — — — — Han Wen Sheng (Note s (i)&(v — — — — — Zhang Zi Fang (Notes (i)&(vi) — — — — — Supervisors Pan Fu(Notes (i)&(vi)) — — — — — Li Jia Shi (Note (ii)) — — — — — Mao Juan — 712 — 129 841 Lin Xiao Chun (Note (v)) — 367 — 90 457 Independent non-executive directors Tan Jin Song 150 — — — 150 Jiao Shu Ge 150 — — — 150 Zheng Fan (Note ( iv 60 — — — 60 Gu Hui Zhong (Note ( iv 60 — — — 60 Notes: (i) These directors or supervisors did not receive any remuneration for their services in the capacity of the directors or supervisors of the Company. They also held management positions in CSAH and their salaries were borne by CSAH. (ii) Mr. Li Jia Shi did not receive any remuneration for his service in the capacity of the supervisor of the Company since February 1, 2018. He also held management position in CSAH and his salary was borne by CSAH. (iii) Mr. Ren Ji Dong did not receive any remuneration for his service in the capacity of the supervisor of the Company but received salary for his service in the capacity of the senior management in 2021. He also held management position in CSAH and his salary for his services was borne by CSAH since November 2021. (iv) In 2020 and 2019, Mr. Zheng Fan and Mr. Gu Hui Zhong received remuneration in accordance with the relevant provisions of the PRC. (v) Appointed on May 8, 2019. (vi) Resigned on May 8, 2019. (vii) Mr. Wang Chang Shun retired on December 21, 2020. (viii) Resigned on April 30, 2021. (ix) Appointed on April 30, 2021. (x) Resigned on November 24, 2021. (xi) Appointed on November 24, 2021. (xii) Resigned on December 28, 2021. (xiii) Appointed on December 28, 2021. |
Possible impact of amendments,
Possible impact of amendments, new standards and interpretations issued but not yet effective for the year ended December 31, 2021 | 12 Months Ended |
Dec. 31, 2021 | |
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Possible impact of amendments, new standards and interpretations issued but not yet effective for the year ended December 31, 2021 | 59 Possible impact of amendments, new standards and interpretations issued but not yet effective for the year ended December 31, 2021 Up to the date of issue of these financial statements, the IASB has issued a number of amendments, and new standards which are not yet effective for the year ended December 31, 2021 and which have not been adopted in these financial statements. These include the following which may be relevant to the Group. Effective for accounting periods Amendments to IAS 37, Onerous Contracts — Cost of Fulfilling a Contract January 1, 2022 Annual Improvements to IFRS Standards 2018-2020 Cycle January 1, 2022 Amendments to IAS 16, Property, Plant and Equipment: Proceeds before Intended Use January 1, 2022 Amendments to IFRS 3, Reference to the Conceptual Framework January 1, 2022 Amendments to IAS 1, Classification of liabilities as current or non-current January 1, 2023 Amendments to IAS 1 and IFRS Practice Statement 2, Disclosure of accounting policies January 1, 2023 Amendments to IAS 8, Definition of accounting estimates January 1, 2023 Amendments to IAS 12, Deferred tax related to assets and liabilities arising from a single transaction January 1, 2023 The Group is in the process of making an assessment of what the impact of these developments is expected to be in the period of initial application. So far it has concluded that except for the adoption of “ Amendments to IAS 1, Classification of Liabilities as Current or Non-current As at December 31, 2021, if the “Amendments to IAS 1, Classification of Liabilities as Current or Non-current” |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
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Basis of preparation | (a) Basis of preparation The consolidated financial statements comprise the Group and the Group’s interest in associates and joint ventures. The measurement basis used in the preparation of the consolidated financial statements is the historical cost basis except that the following assets and liabilities are stated at their fair value as explained in the accounting policies set out below: • other equity instrument investments (see Note 2(f)); • other non-current • derivative financial assets / liabilities (see Note 2(g)). Non-current The preparation of financial statements in conformity with IFRSs requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Judgements made by management in the application of IFRSs that have significant effect on the financial statements and major sources of estimation uncertainty are discussed in Note 3. |
Changes in accounting policies | (b) Changes in accounting policies (A) Amendments to IFRSs that are first effective for the year ended December 31, 2021 The Group has applied the following amendments to IFRSs issued by the IASB to these financial statements for the current accounting period: • Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, Interest rate benchmark reform — phase 2 • Amendment to IFRS 16, Covid-19-related Other than the amendment to IFRS 16, the Group has not applied any new standard or interpretation that is not yet effective for the current accounting period. Impacts of the adoption of the amended IFRSs are discussed below: Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, Interest rate benchmark reform — phase 2 The amendments provide targeted reliefs from (i) accounting for changes in the basis for determining contractual cash flows of financial assets, financial liabilities and lease liabilities as modifications, and (ii) discontinuing hedge accounting when an interest rate benchmark is replaced by an alternative benchmark rate as a result of the reform of interbank offered rates (“IBOR reform”). The adoption of the amendments does not have any material impact on the financial position and the financial result of the Group. Amendment to IFRS 16, Covid-19-related 30, 2021 The Group previously applied the practical expedient in IFRS 16 to all leases except for aircraft and engine leases such that as lessee it was not required to assess whether rent concessions occurring as a direct consequence of the COVID-19 The Group has early adopted the 2021 amendment in this financial year. The adoption of 2021 amendment does not have any material impact on the financial position and the financial result of the Group. (B) Amendments to IFRSs that are first effective for the year ended December 31, 2020 The Group has applied the following amendments to IFRSs issued by the IASB to these financial statements for the current accounting period: • Amendments to IFRS 3, Definition of a Business • Amendment to IFRS 16, COVID-19-Related Other than the amendment to IFRS 16, the Group has not applied any new standard or interpretation that is not yet effective for the current accounting period. Impacts of the adoption of the amended IFRSs are discussed below: Amendments to IFRS 3, Definition of a Business The amendments clarify the definition of a business and provide further guidance on how to determine whether a transaction represents a business combination. In addition, the amendments introduce an optional “concentration test” that permits a simplified assessment of whether an acquired set of activities and assets is an asset rather than business acquisition, when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The amendments do not have any material impact on the financial position and the financial result of the Group. Amendment to IFRS 16, COVID-19-Related The amendment provides a practical expedient that allows a lessee to by-pass COVID-19 COVID-19-Related The Group has elected to early adopt the amendments and applies the practical expedient to all qualifying COVID-19-Related |
Subsidiaries and non-controlling interests | (c) Subsidiaries and non-controlling Subsidiaries are all entities over which the Group has control. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. When assessing whether the Group has power, only substantive rights (held by the Group and other parties) are considered. An investment in a subsidiary is consolidated into the consolidated financial statements from the date that control commences until the date that control ceases. Intra-group transactions, balances and cash flows and any unrealized profits arising from intra-group transactions are eliminated in full in preparing the consolidated financial statements. Unrealized losses resulting from intra-group transactions are eliminated in the same way as unrealized gains but only to the extent that there is no evidence of impairment. Amounts reported by subsidiaries have been adjusted to conform with the Group’s accounting policies. Non-controlling non-controlling non-controlling Non-controlling Non-controlling non-controlling non-controlling Changes in the Group’s interests in a subsidiary that do not result in a loss of control are accounted for as equity transactions, whereby adjustments are made to the amounts of controlling and non-controlling When the Group loses control of a subsidiary, it is accounted for as a disposal of the entire interest in that subsidiary, with a resulting gain or loss being recognized in consolidated income statement. Any interest retained in that former subsidiary at the date when control is lost is recognized at fair value and this amount is regarded as the fair value on initial recognition of a financial asset (Note 2(f)) or, when appropriate, the cost on initial recognition of an investment in an associate or joint venture (Note 2(d)). The Group applies the acquisition method to account for business combinations. The consideration transferred in the acquisition is generally measured at fair value, as are the identifiable net assets acquired. Transaction costs are expensed as incurred. The consideration transferred does not include amounts related to the settlement of pre-existing Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not remeasured and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration are recognized in profit or loss. |
Associates and joint arrangements | (d) Associates and joint arrangements An associate is an entity in which the Group has significant influence, but not control or joint control, over its management, including participation in the financial and operating policy decisions. The Group has applied IFRS 11, Joint Arrangements An investment in an associate or a joint venture is accounted for in the consolidated financial statements under the equity method and is initially recorded at cost, adjusted for any excess of the Group’s share of the acquisition-date fair values of the investee’s identifiable net assets over the cost of the investment (if any). Thereafter, the investment is adjusted for the post acquisition change in the Group’s share of the investee’s net assets and any impairment loss relating to the investment (Notes 2(e) and 2(l)(iii)). At each reporting date, the Group assesses whether there is any objective evidence that the investment is impaired. The Group’s share of the post-acquisition, post-tax post-tax When the Group’s share of losses exceeds its interest in the associate or the joint venture, the Group’s interest is reduced to nil and recognition of further losses is discontinued except to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the investee. For this purpose, the Group’s interest is the carrying amount of the investment under the equity method together with the Group’s long-term interests that in substance form part of the Group’s net investment in the associate or the joint venture. Unrealized profits and losses resulting from transactions between the Group and its associates and joint ventures are eliminated to the extent of the Group’s interest in the investee, except where unrealized losses provide evidence of an impairment of the asset transferred, in which case they are recognized immediately in the consolidated income statement. |
Goodwill | (e) Goodwill Goodwill represents the excess of (i) the aggregate of the fair value of the consideration transferred, the amount of any non-controlling (ii) the net fair value of the acquiree’s identifiable assets and liabilities measured as at the acquisition date. When (ii) is greater than (i), then this excess is recognized immediately in the consolidated income statement as a gain on a bargain purchase. Goodwill is stated at cost less accumulated impairment losses. Goodwill arising on a business combination is allocated to each cash-generating unit, or groups of cash generating units, that is expected to benefit from the synergies of the combination and is tested annually for impairment (Note 2(l)(iii)). |
Other investments in debt and equity securities | (f) Other investments in debt and equity securities The Group’s policies for investments in debt and equity securities, other than investments in subsidiaries, associates and joint ventures, are set out below. Investments in debt and equity securities are recognized / derecognized on the date the Group commits to purchase / sell the investment. The investments are initially stated at fair value plus directly attributable transaction costs, except for those investments measured at fair value through profit or loss (FVPL) for which transaction costs are recognized directly in profit or loss. For an explanation of how the Group determines fair value of financial instruments, see Note 4(g)(i). These investments are subsequently accounted for as follows, depending on their classification. (i) Investments other than equity investments Non-equity • amortized cost, if the investment is held for the collection of contractual cash flows which represent solely payments of principal and interest. Interest income from the investment is calculated using the effective interest method (Note 2(z)(v)). • fair value through other comprehensive income (FVOCI) - recycling, if the contractual cash flows of the investment comprise solely payments of principal and interest and the investment is held within a business model whose objective is achieved by both the collection of contractual cash flows and sale. Changes in fair value are recognized in other comprehensive income, except for the recognition in profit or loss of expected credit losses, interest income (calculated using the effective interest method) and foreign exchange gains and losses. When the investment is derecognized, the amount accumulated in other comprehensive income is recycled from equity to profit or loss. • fair value at profit or loss (FVPL) if the investment does not meet the criteria for being measured at amortized cost or FVOCI (recycling). Changes in the fair value of the investment (including interest) are recognized in profit or loss. (ii) Equity investments An investment in equity securities is classified as FVPL unless the equity investment is not held for trading purposes and on initial recognition of the investment the Group makes an irrevocable election to designate the investment at FVOCI (non-recycling) instrument-by-instrument (non-recycling) (non-recycling) |
Derivative financial instruments | (g) Derivative financial instruments Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value. The method of recognizing the resulting gain or loss depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. The Group documents at the inception of the transaction the relationship between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedging transactions. The Group also documents its assessment, both at hedge inception and on an ongoing basis, of whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items. Derivative financial instruments that do not qualify for hedge accounting are accounted for as trading instruments and any unrealized gains or losses, being changes in fair value of the derivatives, are recognized in the profit or loss immediately. Changes in the fair value of derivatives that are designated and qualify as fair value hedges and that are highly effective, are recorded in the profit or loss, along with any changes in the fair value of the hedged assets or liabilities that are attributable to the hedged risk. Derivative financial instruments that qualify for hedge accounting and which are designated as a specific hedge of the variability in cash flows of a highly probable forecast transaction, are accounted for as follows: (i) The effective portion of any gains or losses on remeasurement of the derivative financial instruments to fair value are recognized in other comprehensive income and accumulated separately in equity in the fair value reserve. The cumulative gain or loss on the derivative financial instruments recognized in other comprehensive income is reclassified from equity to profit or loss in the same period during which the hedged forecast cash flows affects profit or loss; and (ii) The ineffective portion of any gains or losses on remeasurement of the derivative financial instruments to fair value is recognized in the profit or loss immediately. When a hedging instrument expires or is sold, or when a hedge no longer meets the criteria for hedge accounting, any cumulative gains or losses existing in equity at that time remains in equity and is recognized in the profit or loss when the committed or forecast transaction ultimately occurs. When a committed or forecast transaction is no longer expected to occur, the cumulative gains or losses that was recorded in equity is immediately transferred to the profit or loss. |
Investment properties | (h) Investment properties Investment properties are land held under a lease and / or buildings which are owned to earn rental income and/or for capital appreciation. Investment properties are stated at cost, less accumulated depreciation and impairment losses (Note 2(l)(iii)). Depreciation is calculated to write off the cost of items of investment properties, less their estimated residual value, if any, using the straight-line method over their estimated useful lives or lease term. Rental income from investment properties is accounted for as described in Note 2(z)(iii). |
Other property, plant and equipment | (i) Other property, plant and equipment Other property, plant and equipment are stated at cost less accumulated depreciation and impairment losses (Note 2(l)(iii)). The cost of self-constructed items of property, plant and equipment includes the cost of materials, direct labor, the initial estimate, where relevant, of the costs of dismantling and removing the items and restoring the site on which they are located, and an appropriate proportion of production overheads and borrowing costs (Note 2(ab)). Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance are charged to the consolidated income statement during the financial period in which they are incurred. When each major aircraft overhaul is performed, its cost is recognized in the carrying amount of the component of aircraft and is depreciated over the appropriate maintenance cycles. Components related to airframe overhaul cost, are depreciated on a straight-line basis over 6 to 12 years. Components related to engine overhaul cost, are depreciated on the units of production method over the expected flying hours of 9-42 thousand Except for components related to overhaul costs, the depreciation of other property, plant and equipment is calculated to write off the cost of items, less their estimated residual value, if any, using the straight-line method over their estimated useful lives as follows: Buildings 5 to 35 years Owned aircraft 15 to 20 years Other flight equipment – Jet engines 15 to 20 years – Others, including rotables 3 to 15 years Machinery , equipment and vehicles 4 to 10 years Where parts of an item of property, plant and equipment have different useful lives, the cost of the item is allocated on a reasonable basis between the parts and each part is depreciated separately. Both the useful life of an asset and its residual value, if any, are reviewed annually. Gains or losses arising from the retirement or disposal of an item of property, plant and equipment are determined as the difference between the net disposal proceeds and the carrying amount of the item and are recognized in consolidated income statement on the date of retirement or disposal. |
Construction in progress | (j) Construction in progress Construction in progress represents advance payments for the acquisition of aircraft and flight equipment, office buildings, various infrastructure projects under construction and equipment pending for installation, and is stated at cost less impairment losses (Note 2(l)(iii)). Capitalization of these costs ceases and the construction in progress is transferred to property, plant and equipment when the asset is substantially ready for its intended use, notwithstanding any delay in the issue of the relevant commissioning certificates by the relevant PRC authorities. No depreciation is provided in respect of construction in progress. |
Leased assets | (k) Leased assets At inception of a contract, the Group assesses whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is conveyed where the customer has both the right to direct the use of the identified asset and to obtain substantially all of the economic benefits from that use. (1) As a lessee For a contract that contains more than a lease, a lessee and lessor shall separate the contract and account for each lease component respectively. For a contract that contains lease and non-lease non-lease non-lease non-lease non-lease non-lease At the lease commencement date, the Group recognizes a right-of-use low-value low-value lease-by-lease Where the lease is capitalized, the lease liability is initially recognized at the present value of the lease payments payable over the lease term, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, using a relevant incremental borrowing rate. After initial recognition, the lease liability is measured at amortized cost and interest expense is calculated using the effective interest method. Variable lease payments that do not depend on an index or rate are not included in the measurement of the lease liability and hence are charged to profit or loss in the accounting period in which they are incurred. The right-of-use right-of-use right-of-use For the measurement of component accounting for right-of-use The cost of acquiring land held under a lease is amortized on a straight-line basis over the respective periods of lease terms which range from 30 to 70 years. The lease liability is remeasured when there is a change in future lease payments arising from a change in an index or rate, or there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, or there is a change arising from the reassessment of whether the Group will be reasonably certain to exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use right-of-use The lease liability is also remeasured when there is a change in the scope of a lease or the consideration for a lease that is not originally provided for in the lease contract (“lease modification”) that is not accounted for as a separate lease. In this case the lease liability is remeasured based on the revised lease payments and lease term using a revised discount rate at the effective date of the modification. The only exceptions are rent concessions in relation to all leases except for aircraft and engine leases that occurred as a direct consequence of the COVID-19 In the consolidated statement of financial position, the current portion of long-term lease liabilities is determined as the present value of contractual payments that are due to be settled within twelve months after the reporting period. The Group presents right-of-use right-of-use (2) As a lessor When the Group acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease. A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to the ownership of an underlying assets to the lessee. If this is not the case, the lease is classified as an operating lease. When a contract contains lease and non-lease When the Group is an intermediate lessor, the sub-leases right-of-use sub-lease Under a finance lease, at the commencement date, the Group recognizes the finance lease receivable and derecognizes the finance lease asset. The finance lease receivable is initially measured at an amount equal to the net investment in the lease. The net investment in the lease is measured at the aggregate of the unguaranteed residual value and the present value of the lease receivable that are not received at the commencement date, discounted using the interest rate implicit in the lease. The Group recognizes finance income over the lease term, based on a pattern reflecting a constant periodic rate of return. The derecognition and impairment of the finance lease receivable are recognized in accordance with the accounting policy in Note 2(l). Variable lease payments not included in the measurement of net investment in the lease are recognized as income as they are earned. |
Credit losses and impairment of assets | (l) Credit losses and impairment of assets (i) Credit losses from financial instruments and lease receivables The Group recognizes a loss allowance for expected credit losses (ECL) on the following items: • financial assets measured at amortized cost (including cash and cash equivalents and trade and other receivables); and • lease receivables. Financial assets measured at fair value, including equity securities measured at FVPL, equity securities designated at FVOCI (non-recycling) Measurement of ECLs ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all expected cash shortfalls (i.e. the difference between the cash flows due to the Group in accordance with the contract and the cash flows that the Group expects to receive). The expected cash shortfalls are discounted using the following discount rates where the effect of discounting is material: • fixed-rate financial assets, and trade and other receivables: effective interest rate determined at initial recognition or an approximation thereof; • variable-rate financial assets: current effective interest rate; • lease receivables: discount rate used in the measurement of the lease receivable. The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. In measuring ECLs, the Group takes into account reasonable and supportable information that is available without undue cost or effort. This includes information about past events, current conditions and forecasts of future economic conditions. ECLs are measured on either of the following bases: • 12-month • lifetime ECLs: these are losses that are expected to result from all possible default events over the expected lives of the items to which the ECL model applies. Loss allowances for trade receivables and lease receivables are always measured at an amount equal to lifetime ECLs. ECLs on these financial assets are estimated using a provision matrix based on the Group’s historical credit loss experience, adjusted for factors that are specific to the debtors and an assessment of both the current and forecast general economic conditions at the reporting date. For all other financial instruments, the Group recognizes a loss allowance equal to 12-month Significant increases in credit risk In assessing whether the credit risk of a financial instrument has increased significantly since initial recognition, the Group compares the risk of default occurring on the financial instrument assessed at the reporting date with that assessed at the date of initial recognition. In making this reassessment, the Group considers that a default event occurs when the borrower is unlikely to pay its credit obligations to the Group in full, without recourse by the Group to actions such as realizing security (if any is held). The Group considers both quantitative and qualitative information that is reasonable and supportable, including historical experience and forward-looking information that is available without undue cost or effort. In particular, the following information is taken into account when assessing whether credit risk has increased significantly since initial recognition: • failure to make payments of principal or interest on their contractually due dates ; • an actual or expected significant deterioration in a financial instrument’s external or internal credit rating (if available); • an actual or expected significant deterioration in the operating results of the debtor; and • existing or forecast changes in the technological, market, economic or legal environment that have a significant adverse effect on the debtor’s ability to meet its obligation to the Group. Depending on the nature of the financial instruments, the assessment of a significant increase in credit risk is performed on either an individual basis or a collective basis. When the assessment is performed on a collective basis, the financial instruments are grouped based on shared credit risk characteristics, such as past due status and credit risk ratings. The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 30 days past due, unless the Group has reasonable and supportable information that is available without undue cost or effort, that demonstrates that the credit risk has not increased significantly since initial recognition even though the contractual payments are more than 30 days past due. ECLs are remeasured at each reporting date to reflect changes in the financial instrument’s credit risk since initial recognition. Any change in the ECL amount is recognized as an impairment gain or loss in consolidated income statement. The Group recognizes an impairment gain or loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account. Basis of calculation of interest income Interest income recognized in accordance with Note 2(z)(v) is calculated based on the gross carrying amount of the financial asset unless the financial asset is credit-impaired, in which case interest income is calculated based on the amortized cost (i.e. the gross carrying amount less loss allowance) of the financial asset. At each reporting date, the Group assesses whether a financial asset is credit-impaired. A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Evidence that a financial asset is credit-impaired includes the following observable events: • significant financial difficulties of the debtor; • a breach of contract, such as a default or delinquency in interest or principal payments; • it becoming probable that the borrower will enter into bankruptcy or other financial reorganization; • significant changes in the technological, market, economic or legal environment that have an adverse effect on the debtor; or • the disappearance of an active market for a security because of financial difficulties of the issuer. Write-off The gross carrying amount of a financial asset and lease receivable is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. Subsequent recoveries of an asset that was previously written off are recognized as a reversal of impairment in consolidated income statement in the period in which the recovery occurs. (ii) Credit losses from financial guarantees issued Financial guarantees are contracts that require the issuer (i.e. the guarantor) to make specified payments to reimburse the beneficiary of the guarantee (the “holder”) for a loss the holder incurs because a specified debtor fails to make payment when due in accordance with the terms of a debt instrument. After initial recognition at fair value, the Group, as an issuer of such a contract, subsequently measure it at the higher of: (i) the amount of the loss allowance and (ii) the amount initially recognized less, when appropriate, the cumulative amount of income recognized. The Group monitors the risk that the specified debtor will default on the contract and recognizes a provision when ECLs on the financial guarantees are determined to be higher than the carrying amount in respect of the guarantees (i.e. the amount initially recognized, less accumulated amortization). To determine ECLs, the Group considers changes in the risk of default of the specified debtor since the issuance of the guarantee. A 12-month As the Group is required to make payments only in the event of a default by the specified debtor in accordance with the terms of the instrument that is guaranteed, an ECL is estimated based on the expected payments to reimburse the holder for a credit loss that it incurs less any amount that the Group expects to receive from the holder of the guarantee, the specified debtor or any other party. The amount is then discounted using the current risk-free rate adjusted for risks specific to the cash flows. (iii) Impairment of other non-current Internal and external sources of information are reviewed at the end of each reporting period to identify indications that the following assets may be impaired or, except in the case of goodwill, an impairment loss previously recognized no longer exists or may have decreased: • Investment properties; • Other property, plant and equipment; • Right-of-use • Construction in progress; • Goodwill; • Investments in associates and joint ventures. If any such indication exists, the asset’s recoverable amount is estimated. The recoverable amount of goodwill is estimated annually whether or not there is any indication of impairment. • Calculation of recoverable amount The recoverable amount of an asset is the higher of its fair value less costs of disposal and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax • Recognition of impairment losses An impairment loss is recognized in profit or loss if the carrying amount of an asset, or the cash-generating unit to which it belongs, exceeds its recoverable amount. Impairment losses recognized in respect of cash-generating units are allocated first to reduce the carrying amount of any goodwill allocated to the cash-generating unit (or group of units) and then, to reduce the carrying amount of the other assets in the unit (or group of units) on a pro rata basis, except that the carrying value of an asset will not be reduced below its individual fair value less costs of disposal (if measurable), or value in use (if determinable). • Reversals of impairment losses In respect of assets other than goodwill, an impairment loss is reversed if there has been a favorable change in the estimates used to determine the recoverable amount. An impairment loss in respect of goodwill is not reversed. A reversal of an impairment loss is limited to the asset’s carrying amount that would have been determined had no impairment loss been recognized in prior years. Reversals of impairment losses are credited to profit or loss in the year in which the reversals are recognized. |
Inventories | (m) Inventories Inventories, which consist primarily of consumable spare parts and supplies, are stated at cost less any applicable provision for obsolescence, and are charged to consolidated income statement when used in operations. Cost represents the average unit cost. Inventories held for sale or disposal are carried at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. When inventories are sold, the carrying amount of those inventories is recognized as an expense in the period in which the related revenue is recognized. The amount of any write-down of inventories to net realizable value and all losses of inventories are recognized as an expense in the period the write-down or loss occurs. The amount of any reversal of any write-down of inventories is recognized as a reduction in the amount of inventories recognized as an expense in the period in which the reversal occurs. |
Contract liabilities | (n) Contract liabilities A contract liability is recognized when the customer pays non-refundable non-refundable |
Trade and other receivables | (o) Trade and other receivables A receivable is recognized when the Group has an unconditional right to receive consideration. A right to receive consideration is unconditional if only the passage of time is required before payment of that consideration is due. If revenue has been recognized before the Group has an unconditional right to receive consideration, the amount is presented as a contract asset. Trade receivables that do not contain a significant financing component are initially measured at their transaction price. Trade receivables that contain a significant financing component and other receivables are initially measured at fair value plus transaction costs. All receivables are subsequently are stated at amortized cost using the effective interest method and including an allowance for credit losses (see Note 2(l)(i)). |
Interest-bearing borrowings | (p) Interest-bearing borrowings Interest-bearing borrowings are recognized initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortized cost with any difference between the amount initially recognized and redemption value being recognized in consolidated income statement over the period of the borrowings, together with any interest and fees payable, using the effective interest method. |
Trade and other payables | (q) Trade and other payables Trade and other payables are initially recognized at fair value. Subsequent to initial recognition, trade and other payables are stated at amortized cost unless the effect of discounting would be immaterial, in which case they are stated at invoice amounts. |
Non-current assets held for sale | (r) Non-current A non-current Immediately before classification as held for sale, the measurement of the non-current up-to-date non-current Impairment losses on initial classification as held for sale, and on subsequent remeasurement while held for sale, are recognized in profit or loss. As long as a non-current non-current |
Cash and cash equivalents | (s) Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other financial institutions, and short-term, highly liquid investments that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value, having been generally within three months of maturity at acquisition. Bank overdrafts that are repayable on demand and form an integral part of the Group’s cash management are also included as a component of cash and cash equivalents for the purpose of the consolidated cash flow statement. Cash and cash equivalents are assessed for ECL in accordance with the policy set out in Note 2(l)(i). |
Provisions and contingent liabilities | (t) Provisions and contingent liabilities Provisions are recognized for liabilities of uncertain timing or amount when the Group has a legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Where the time value of money is material, provisions are stated at the present value of the expenditures expected to settle the obligation. Where it is not probable that an outflow of economic benefits will be required, or the amount cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the probability of outflow of economic benefits is remote. Possible obligations, whose existence will only be confirmed by the occurrence or non-occurrence |
Dividend distribution | (u) Dividend distribution Dividend distribution to the Company’s shareholders is recognized as a liability in the Group’s consolidated financial statements in the period in which the dividends are approved by the Company’s shareholders. |
Share capital | (v) Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds. |
Deferred benefits and gains | (w) Deferred benefits and gains In connection with the acquisitions of certain aircraft and engines, the Group receives various credits. Such credits are deferred until the aircraft and engines are delivered, at which time they are applied as a reduction of the cost of acquiring the aircraft and engines, resulting in a reduction of future depreciation. |
Convertible bonds | (x) Convertible bonds (i) Convertible bonds that contain an equity component Convertible bonds that can be converted into ordinary shares at the option of the holder, where a fixed number of shares are issued for a fixed amount of cash or other financial assets, are accounted for as compound financial instruments, i.e. they contain both a liability component and an equity component. At initial recognition, the liability component of the convertible bonds is measured at the fair value based on the future interest and principal payments, discounted at the prevailing market rate of interest for similar non-convertible The liability component is subsequently carried at amortized cost. Interest expense recognized in profit or loss on the liability component is calculated using the effective interest method. The equity component is not remeasured and is recognized in the other reserve until either the bonds are converted or redeemed. If the bonds are converted, the other reserve, together with the carrying amount of the liability component at the time of conversion, is transferred to share capital and share premium as consideration for the shares issued. If the bonds are redeemed, the other reserve is released directly to retained earnings. (ii) Other convertible bonds Convertible bonds which do not contain an equity component are accounted for as follows: At initial recognition, the derivative component of the convertible bonds is measured at fair value and presented as part of derivative financial instruments (see Note 2(g)). Any excess of proceeds over the amount initially recognized as the derivative component is recognized as the host liability component. Transaction costs that relate to the issue of the convertible bonds are allocated to the host liability and are recognized initially as part of the liability. The derivative component is subsequently remeasured in accordance with Note 2(g). The host liability component is subsequently carried at amortized cost. Interest expense recognized in profit or loss on the host liability component is calculated using the effective interest method. If the bonds are converted, the derivative financial instruments, together with the carrying amount of the liability component at the time of conversion, is transferred to share capital and share premium as consideration for the shares issued. If the bonds are redeemed, any difference between the amount paid and the carrying amounts of both components is recognized in profit or loss. |
Income tax | (y) Income tax Income tax for the year comprises current tax and movements in deferred tax assets and liabilities. Current tax and movements in deferred tax assets and liabilities are recognized in consolidated income statement except to the extent that they relate to items recognized in other comprehensive income or directly in equity, in which case the relevant amounts of tax are recognized in other comprehensive income or directly in equity, respectively. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the end of the reporting year, and any adjustment to tax payable in respect of previous years. Deferred tax assets and liabilities arise from deductible and taxable temporary differences respectively, being the differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases. Deferred tax assets also arise from unused tax losses and unused tax credits. Apart from certain limited exceptions, all deferred tax liabilities, and all deferred tax assets to the extent that it is probable that future taxable profits will be available against which the asset can be utilized, are recognized. Future taxable profits that may support the recognition of deferred tax assets arising from deductible temporary differences include those that will arise from the reversal of existing taxable temporary differences, provided those differences relate to the same taxation authority and the same taxable entity, and are expected to reverse either in the same period as the expected reversal of the deductible temporary difference or in periods into which a tax loss arising from the deferred tax asset can be carried back or forward. The same criteria are adopted when determining whether existing taxable temporary differences support the recognition of deferred tax assets arising from unused tax losses and credits, that is, those differences are taken into account if they relate to the same taxation authority and the same taxable entity, and are expected to reverse in a period, or periods, in which the tax loss or credit can be utilized. The limited exception to the recognition of deferred tax assets and liabilities are those temporary differences arising from goodwill, the initial recognition of assets or liabilities that affect neither accounting nor taxable profit (provided they are not part of a business combination), and temporary differences relating to investments in subsidiaries, associates and joint ventures to the extent that, in the case of taxable differences, the Group controls the timing of the reversal and it is probable that the differences will not reverse in the foreseeable future, or in the case of deductible differences, unless it is probable that they will reverse in the future and it is probable that future taxable profit will be available against which the temporary difference can be utilized. The amount of deferred tax recognized is measured based on the expected manner of realization or settlement of the carrying amount of the assets and liabilities, using tax rates enacted or substantively enacted at the end of the reporting period and are expected to apply when related deferred tax asset is realized or the deferred tax liability is settled. Deferred tax assets and liabilities are not discounted. The carrying amount of a deferred tax asset is reviewed at the end of each reporting period and is reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow the related tax benefit to be utilized. Any such reduction is reversed to the extent that it becomes probable that sufficient taxable profits will be available. Current tax balances and deferred tax balances, and movements therein, are presented separately from each other and are not offset. Current tax assets are offset against current tax liabilities, and deferred tax assets against deferred tax liabilities, if the Company or the Group has the legally enforceable right to set off current tax assets against current tax liabilities and the following additional conditions are met: • in the case of current tax assets and liabilities, the Company or the Group intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously; or • in the case of deferred tax assets and liabilities, if they relate to income taxes levied by the same taxation authority on either: • the same taxable entity; or • different taxable entities, which, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered, intend to realize the current tax assets and settle the current tax liabilities on a net basis or realize and settle simultaneously. |
Revenue and other income | (z) Revenue and other income Income is classified by the Group as revenue when it arises from the sale of goods, the provision of services or the use by others of the Group’s assets under leases in the ordinary course of the Group’s business. Revenue is recognized when control over a product or service is transferred to the customer, or the lessee has the right to use the asset, at the amount of promised consideration to which the Group is expected to be entitled, excluding those amounts collected on behalf of third parties. Revenue excludes value added tax or other sales taxes and is after deduction of any trade discounts. Further details of the Group’s revenue and other income recognition policies are as follows: (i) Passenger, cargo and mail revenue Revenue is recognized when passenger, cargo and mail transportation services are provided. Unearned passenger revenue at the reporting date is included within “sales in advance of carriage” in the consolidated statement of financial position. Ticket breakage relates to a portion of contractual rights that the Group does not expect to be exercised. When the Group expects that the consideration received in advance of carriage is not refundable, and the customer is likely to give up a portion of the contractual rights, the Group recognizes, in proportion to the pattern of rights exercised by the customer, the breakage amount to which the Group expects to be entitled as revenue. If the Group does not expect to be entitled to a breakage amount, the Group recognizes the expected breakage amount as revenue when the likelihood of the customer exercising its remaining rights becomes remote. Revenue from airline-related business is recognized when the customers obtain control of the relevant services. The incremental costs of obtaining a contract are those costs that the Group incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, a sales commission). As a practical expedient, the Group recognizes sales commission (that are regarded as directly related incremental costs of obtaining transportation contracts) as an expense when incurred, as the amortization period is one year or less. (ii) Frequent flyer revenue The Group maintains two major frequent flyer award programs, namely, the China Southern Airlines Sky Pearl Club and the Xiamen Airlines’ Egret Card Frequent Flyer Program, which provide travel and other awards to members based on accumulated mileages. According to the frequent flyer award programs, the Group allocates the transaction price received in relation to mileage earning flights to flight and mileage awarded on a relative stand-alone selling price basis, and recognized the portion allocated to mileage awarded as “contract liabilities”. The mileage awarded to customers by third parties through means other than flights are initially recognized as “contract liabilities”. The Group estimates the standalone selling price of mileage awarded through mileage earning flights based on inputs and assumptions derived from historical data, including the estimates on the percentage of mileage awarded that are expected to be redeemed (“expected redemption rate”). Contract liabilities in relation to mileage awarded are subsequently recognized as revenue when the mileage is redeemed and the related benefits are received or used. Revenue on redeemed flights is recognized in accordance with the accounting policy set out in Note 2(z)(i), and revenue on redeemed goods or services is recognized when the customers obtain control of the goods or services. (iii) Rental income from operating leases Rental income receivable under operating leases is recognized in consolidated income statement in equal instalments over the periods covered by the lease term, except where an alternative basis is more representative of the pattern of benefits to be derived from the use of the leased asset. Lease incentives granted are recognized in profit or loss as an integral part of the aggregate net lease payments receivable. Contingent rentals are recognized as income in the accounting period in which they are earned. (iv) Dividends • Dividend income from unlisted investments is recognized when the shareholder’s right to receive payment is established. • Dividend income from listed investments is recognized when the share price of the investment goes ex-dividend. (v) Interest income Interest income is recognized as it accrues under the effective interest method using the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the gross carrying amount of the financial asset. For financial assets measured at amortized cost or FVOCI (recycling) that are not credit-impaired, the effective interest rate is applied to the gross carrying amount of the asset. For credit-impaired financial assets, the effective interest rate is applied to the amortized cost (i.e. gross carrying amount net of loss allowance) of the asset (see Note 2(l)(i)). (vi) Government grants Government grants are recognized in the consolidated statement of financial position initially when there is reasonable assurance that they will be received and that the Group will comply with the conditions attaching to them. Grants that compensate the Group for expenses incurred are recognized as income in consolidated income statement on a systematic basis in the same periods in which the expenses are incurred. Grants that compensate the Group for the cost of an asset are deducted from the carrying amount of the asset and consequently are effectively recognized in profit or loss over the useful life of the asset by way of reduced depreciation expense. |
Maintenance and overhaul costs | (aa) Maintenance and overhaul costs In respect of owned and leased aircraft, components within the aircraft subject to replacement during major overhauls are recognized as Note 2(i) and Note 2(k). Other routine maintenance, repairs and overhauls are charged to consolidated income statement as and when incurred. In respect of certain leased aircraft, the Group has responsibility to fulfil certain return conditions under relevant lease agreements. In order to fulfil these return conditions, major overhauls are required to be conducted. Accordingly, except for the estimated costs of major overhauls recognized as right-of-use |
Borrowing costs | (ab) Borrowing costs General and specific borrowing costs that are directly attributable to the acquisition, construction or production of an asset which necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of that asset. Other borrowing costs are expensed in the period in which they are incurred. The capitalization of borrowing costs as part of the cost of a qualifying asset commences when expenditure for the asset is being incurred, borrowing costs are being incurred and activities that are necessary to prepare the asset for its intended use or sale are in progress. Capitalization of borrowing costs is suspended or ceases when substantially all the activities necessary to prepare the qualifying asset for its intended use or sale are interrupted or complete. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization. Borrowing costs include interest expense, finance charges in respect of lease liabilities and exchange differences arising from foreign currency borrowings to the extent that they are regarded as an adjustment to interest costs. |
Employee benefits | (ac) Employee benefits (i) Short term employee benefits and contributions to defined contribution retirement schemes Salaries, annual bonuses and contributions to defined contribution retirement schemes are accrued in the year in which the associated services are rendered by employees. Where payment or settlement is deferred and the effect would be material, these amounts are stated at their present values. (ii) Termination benefits Termination benefits are recognized when, and only when, the Group demonstrably commits itself to terminate employment or to provide benefits as a result of voluntary redundancy by having a detailed formal plan which is without realistic possibility of withdrawal. (iii) Retirement benefits According to IAS 19, Employee Benefits |
Translation of foreign currencies | (ad) Translation of foreign currencies Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (“the functional currency”). The consolidated financial statements are presented in Renminbi, which is the Company’s functional and the Group’s presentation currency. Foreign currencies transactions during the year are translated into Renminbi at the applicable rates of exchange quoted by the People’s Bank of China (“PBOC”) prevailing at the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated into Renminbi at the PBOC exchange rates prevailing at the end of the reporting period. Exchange gains and losses are recognized in profit or loss. Non-monetary non-monetary Non-monetary The results of foreign operations are translated into Renminbi at the PBOC exchange rates approximating the foreign exchange rates prevailing at the dates of the transactions. Statement of financial position items are translated into Renminbi at the PBOC exchange rates prevailing at the end of the reporting period. The resulting exchange differences are recognized in other comprehensive income and accumulated separately in equity in the exchange reserve. |
Related parties | (ae) Related parties (a) A person, or a close member of that person’s family, is related to the Group if that person: (i) has control or joint control over the Group; (ii) has significant influence over the Group; or (iii) is a member of the key management personnel of the Group or the Group’s parent. (b) An entity is related to the Group if any of the following conditions applies: (i) The entity and the Group are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others). (ii) One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member). (iii) Both entities are joint ventures of the same third party. (iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity. (v) The entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group. (vi) The entity is controlled or jointly controlled by a person identified in (a). (vii) A person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity). (viii) The entity, or any member of a group of which it is a part, provides key management personnel services to the Group or to the Group’s parent. Close members of the family of a person are those family members who may be expected to influence, or be influenced by, that person in their dealings with the entity. |
Segment reporting | (af) Segment reporting Operating segments, and the amounts of each segment item reported in the financial statements, are identified from the financial information provided regularly to the Group’s most senior executive management, who is the chief operating decision maker, for the purposes of allocating resources to, and assessing the performance of, the Group’s various lines of business and geographical locations. Individually material operating segments are not aggregated for financial reporting purposes unless the segments have similar economic characteristics and are similar in respect of the nature of products and services, the nature of production processes, the type or class of customers, the methods used to distribute the products or provide the services, and the nature of the regulatory environment. Operating segments which are not individually material may be aggregated if they share a majority of these criteria. |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Estimated Useful Lives for Depreciation Using Straight Line Method of Other Property, Plant and Equipment | Except for components related to overhaul costs, the depreciation of other property, plant and equipment is calculated to write off the cost of items, less their estimated residual value, if any, using the straight-line method over their estimated useful lives as follows: Buildings 5 to 35 years Owned aircraft 15 to 20 years Other flight equipment – Jet engines 15 to 20 years – Others, including rotables 3 to 15 years Machinery , equipment and vehicles 4 to 10 years |
Financial risk management and_2
Financial risk management and fair values of financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Remaining Contractual Maturities of Non-derivative Financial Liabilities Based on Contractual Undiscounted Cash Flows | The following tables show the remaining contractual maturities at the end of the reporting period of the Group’s non-derivative 2021 Contractual undiscounted cash outflow Within 1 year or on demand More than 1 year but less than 2 years More than 2 years but less than 5 years More than 5 years Total Carrying amount at December 31 RMB million RMB million RMB million RMB million RMB million RMB million Borrowings 59,167 19,428 18,824 3,586 101,005 96,267 Lease liabilities 25,331 22,764 45,142 25,923 119,160 102,749 Trade and other payables and accrued charges 20,097 — — — 20,097 20,097 Long-term payables 111 111 96 — 318 291 104,706 42,303 64,062 29,509 240,580 219,404 2020 Contractual undiscounted cash outflow Within 1 year or on demand More than 1 year but 2 years More than 2 years but 5 years More than 5 years Total Carrying amount at December 31 RMB million RMB million RMB million RMB million RMB million RMB million Borrowings 41,378 8,350 15,420 21,190 86,338 78,233 Lease liabilities 25,752 23,989 54,653 36,382 140,776 121,213 Trade and other payables and accrued charges 20,892 — — — 20,892 20,892 Long-term payables 111 111 207 — 429 385 88,133 32,450 70,280 57,572 248,435 220,723 |
Sensitivity Analysis of Significant Foreign Exchange Rates and Impact on Profit after Tax and Retained Profits | The following table indicates the instantaneous change in the Group’s loss/profit after tax and retained earnings that would arise if foreign exchange rates to which the Group has significant exposure at the end of the reporting period had changed at that date, assuming all other risk variables remained constant. The range of such sensitivity was considered to be reasonably possible at the end of the reporting date. 2021 Appreciation/(depreciation) of Decrease/(increased) on loss after tax and increase/(decrease) on retained earnings RMB million USD 1 % 322 (1 %) (322 ) Euro 1 % 18 (1 %) (18 ) Japanese Yen 10 % 38 (10 %) (38 ) 2020 Appreciation/(depreciation) of Decrease/(increased) on loss RMB million USD 1 % 367 (1 %) (367 ) Euro 1 % 24 (1 %) (24 ) Japanese Yen 10 % 74 (10 %) (74 ) 2019 Appreciation/(depreciation) of Increase/(decrease) on profit RMB million USD 1 % 434 (1 %) (434 ) Euro 1 % 26 (1 %) (26 ) Japanese Yen 10 % 94 (10 %) (94 ) |
Disclosure of Exposure to Credit Risk and Expected Credit Losses for Air Ticket Receivables | The following table provides information about the Group’s exposure to credit risk and ECLs for air ticket receivables as at December 31, 2021: December 31, 2021 Expected Gross carrying amount Loss allowance % RMB million RMB million Within 3 months 0.01 % 1,811 — More than 3 months but less than 1 year 50.00 % 5 3 More than 1 year but less than 2 years 100.00 % 1 1 More than 2 years but less than 3 years 100.00 % 3 3 More than 3 years 100.00 % 15 15 1,835 22 December 31, 2020 Expected Gross carrying amount Loss % RMB million RMB million Within 3 months 0.01 % 1,461 — More than 3 months but less than 1 year 50.00 % 7 4 More than 1 year but less than 2 years 100.00 % 6 6 More than 2 years but less than 3 years 100.00 % 5 5 More than 3 years 100.00 % 13 13 1,492 28 |
Schedule of Movement in the Allowances for Loan Losses | Movement in the loss allowance account in respect of trade receivables during the year is as follows: 2021 2020 RMB million RMB million Balance at January 1 43 36 Amounts written off during the year (4 ) (3 ) Impairment losses written back (5 ) (1 ) Impairment losses recognized during the year 5 11 Balance at December 31 39 43 |
Disclosure Of Detailed Information About Reconciliation Of Changes In Allowance For Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments Explanatory | Set out below are the movements of loss allowances measured at 12-month 2021 2020 Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Total 12-month Lifetime impaired) Lifetime Total 12-month Lifetime Lifetime RMB RMB RMB RMB RMB RMB RMB RMB As at January 1 2 9 148 159 1 4 — 5 Accrual 2 — — 2 3 5 148 156 Reversal (3 ) — — (3 ) (2 ) — — (2 ) Write-off — — — — — — — — As at December 31 1 9 148 158 2 9 148 159 |
Carrying Value of Financial Instruments Measured at Fair Value on a Recurring Basis | Fair value measurements as at December 31, 2021 categorized into Recurring fair value measurement Note Fair value at December 31, 2021 RMB million Level 1 RMB million Level 2 RMB million Level 3 RMB million Financial assets/(liabilities): Other equity instrument investments: -Non-listed 26 40 — — 40 -Non-tradable 26 523 — — 523 Other non-current -Listed shares 26 68 68 — — -Non-listed 26 27 — — 27 Derivative financial liabilities: -Interest rate swaps 27 (20 ) — (20 ) — -Derivative component of convertible bonds 27 (1,222 ) — (1,222 ) — Fair value measurements as at December 31, 2020 categorized into Recurring fair value measurement Note Fair value at RMB million Level 1 RMB million Level 2 RMB million Level 3 RMB million Financial assets/(liabilities): Other equity instrument investments: -Non-listed 26 100 — — 100 -Non-tradable 26 699 — — 699 Other non-current -Listed shares 26 64 64 — — -Non-listed 26 28 — — 28 Derivative financial liabilities: -Interest rate swaps 27 (53 ) — (53 ) — -Derivative component of convertible bonds 27 (3,092 ) — (3,092 ) — -Forward foreign exchange and foreign exchange options contracts 27 (56 ) — (56 ) — |
Disclosure of Fair Value of Derivative Component of Convertible Bonds is Measured by Using the Binomial Model | Fair value of derivative component of convertible bonds is measured by using the Binomial Model. The major inputs used in the Binomial Model are: At December 31, 2021 At December 31, 2020 Conversion price RMB 6.24 RMB 6.24 Stock price of A shares RMB 6.47 RMB 6.01 Stock market volatility 33.78 % 35.38 % Risk-free interest rate 2.59 % 3.14 % |
Quantitative Information of Valuation Technique and Significant Unobservable Inputs Used in Measuring Financial Instruments at Fair Value on a Recurring Basis | Information about Level 3 fair value measurements Valuation technique Significant unobservable inputs Range Other equity instruments investments -Non-listed Market comparable companies Discount for lack of marketability 32 % -Non-tradable Discounted cash flow Expected profit growth rate during the projection period 1%-169 % Perpetual growth rate 3 % Perpetual dividend payout rate 80 % Expected dividend payout rate during the projection period 28 % Discount rate 10.46 % Other non-current -Non-listed Discounted cash flow Expected profit growth rates during the projection period 10%-28 % Perpetual growth rates 1%-3 % Perpetual dividend payout rates 80 % Expected dividend payout rates during the projection period 27%-33 % Discount rates 10%-11.77 % (1) The fair value of non-listed (2) The fair value of these non-tradable non-listed (3) Any gain or loss arising from the remeasurement of the Group’s unlisted or non-tradable (non-recycling) |
Operating revenue (Tables)
Operating revenue (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Operation of Civil Aviation, Including the Provision of Passenger, Cargo, Mail Delivery, and Other Extended Transportation Services | Disaggregation of revenue from contracts with customers by major service lines is as follows: 2021 2020 2019 Note RMB million RMB million RMB million Revenue from contracts with customers within the scope of IFRS 15: Disaggregated by service lines -Traffic revenue - Passenger 75,392 70,534 138,502 - Cargo and mail 19,887 16,493 9,615 -Commission income 2,677 2,771 2,952 -General aviation income 572 508 564 -Cargo handling income 864 507 359 -Hotel and tour operation income 538 390 712 -Ground services income 326 210 409 -Air catering service income 271 273 353 -Others 885 689 654 101,412 92,375 154,120 Revenue from other sources: -Rental income 19(e) 232 186 202 101,644 92,561 154,322 |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Statement [LineItems] | |
Information of Reportable Segments Provided to Chief Operating Decision Maker for Purposes of Resource Allocation and Assessment of Segment Performance | The segment results of the Group for the year ended December 31, 2021 are as follows: Airline transportation operations Other segments Elimination Unallocated* Total RMB million RMB million RMB million RMB million RMB million Disaggregated by timing of revenue recognition Point in time 2,763 1,418 (1,171 ) — 3,010 Over time 98,206 3,257 (2,829 ) — 98,634 Revenue from external customers 100,419 1,225 — — 101,644 Inter-segment sales 550 3,450 (4,000 ) — — Reportable segment revenue 100,969 4,675 (4,000 ) — 101,644 Reportable segment loss before taxation (13,769 ) (111 ) 2 (25 ) (13,903 ) Reportable segment loss after taxation (10,998 ) (67 ) 2 52 (11,011 ) Other segment information Income tax (2,771 ) (44 ) — (77 ) (2,892 ) Interest income 763 15 (103 ) — 675 Interest expense 6,291 26 (115 ) — 6,202 Depreciation and amortization 23,854 380 — — 24,234 Impairment loss 2,596 18 — — 2,614 Credit losses 1 (2 ) — — (1 ) Share of associates’ results — — — 9 9 Share of joint ventures’ results — — — 271 271 Change in fair value of financial assets / liabilities — — — (309 ) (309 ) Non-current # 21,457 905 (359 ) — 22,003 The segment results of the Group for the year ended December 31, 2020 are as follows: Airline transportation operations Other segments Elimination Unallocated* Total RMB million RMB million RMB million RMB million 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 amortization 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 # 24,039 547 (49 ) — 24,537 The segment results of the Group for the year ended December 31, 2019 are as follows: Airline transportation operations Other segments Elimination Unallocated* Total RMB million RMB million RMB million RMB million 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 amortization 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 # 44,851 739 — — 45,590 The segment assets and liabilities of the Group as at December 31, 2021 and December 31, 2020 are as follows: Airline transportation operations Other segments Elimination Unallocated* Total RMB million RMB million RMB million RMB million RMB million As at December 31, 2021 Reportable segment assets 312,020 5,909 (1,616 ) 6,635 322,948 Reportable segment liabilities 236,428 2,640 (1,607 ) 1,242 238,703 As at December 31, 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 * Unallocated assets primarily include interest in associates and joint ventures, derivative financial assets and equity securities. Unallocated liabilities primarily include derivative financial liabilities. Unallocated results primarily include the share of results of associates and joint ventures, dividend income from equity securities, and the fair value movement of financial instruments recognized through profit or loss. # The additions of non-current non-current |
Revenues by Geographical Segment | The Group’s revenue by geographical segment are analyzed based on the following criteria: (1) Traffic revenue from services of both origin and destination within the PRC (excluding Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan (“Hong Kong, Macau and Taiwan”)), is classified as domestic revenue. Traffic revenue with origin and destination among PRC, Hong Kong, Macau and Taiwan is classified as Hong Kong, Macau and Taiwan revenue; while that with origin from or destination to other overseas markets is classified as international revenue. (2) Revenue from commission income, general aviation, cargo handling, hotel and tour operation, ground services, air catering services and other miscellaneous services are classified on the basis of where the services are performed. 2021 2020 2019 RMB million RMB million RMB million Domestic 76,517 65,137 110,112 International 24,739 27,090 41,651 Hong Kong, Macau and Taiwan 388 334 2,559 101,644 92,561 154,322 |
Reconciliation of Reportable Segment, (Loss)/Profit before Income Tax, Assets and Liabilities to Consolidated Figures | (c) Reconciliation of reportable segment (loss)/profit before income tax, assets and liabilities to the consolidated figures as reported in the consolidated financial statements Note 2021 2020 2019 (Loss)/profit before income tax Reportable segment (loss)/profit before taxation 6(a) (13,903 ) (15,186 ) 4,070 Capitalization of exchange difference of specific loans (i) (8 ) (9 ) (16 ) Government grants (ii) 1 — 1 Consolidated (loss)/profit before income tax (13,910 ) (15,195 ) 4,055 Note 2021 RMB million 2020 RMB million Assets Reportable segment assets 6(a) 322,948 326,115 Capitalization of exchange difference of specific loans (i) 39 47 Government grants (ii) (5 ) (6 ) Adjustments arising from business combinations under common control (iii) 237 237 Others (8 ) (10 ) Consolidated total assets 323,211 326,383 Notes: (i) In accordance with the PRC GAAP, exchange difference arising on translation of specific loans and related interest denominated in a foreign currency is capitalized as part of the cost of qualifying assets. Under IFRSs, such exchange difference is recognized in income statement unless the exchange difference represents an adjustment to interest. (ii) In accordance with the PRC GAAP, assets related government grants (other than special funds) are deducted from the cost of the related assets. Special funds granted by the government and clearly defined in the approval documents as part of “capital reserve” are accounted for as increase in capital reserve. Under IFRSs, assets related government grants are deducted to the cost of the related assets. The difference is resulted from government grants received in previous years and are recognized in capital reserve under PRC GAAP. (iii) In accordance with the PRC GAAP, the Company accounts for the business combination under common control by applying the pooling-of-interest pooling-of-interest |
Flight operation expenses (Tabl
Flight operation expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Flight Operation Expenses | 2021 2020 2019 Jet fuel costs 25,505 18,797 42,814 Flight personnel payroll and welfare 10,763 10,232 12,709 Air catering expenses 1,577 1,765 3,975 Civil Aviation Development Fund 1,059 — 2,332 Aircraft operating lease charges 920 977 1,412 Training expenses 690 857 1,142 Aircraft insurance 184 191 192 Others 4,871 4,726 5,990 45,569 37,545 70,566 |
Maintenance expenses (Tables)
Maintenance expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Maintenance Expenses | 2021 2020 2019 Aviation repair and maintenance charges 7,890 9,101 8,565 Staff payroll and welfare 2,994 2,875 2,976 Maintenance materials 1,278 1,399 1,516 12,162 13,375 13,057 |
Aircraft and transportation s_2
Aircraft and transportation service expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Aircraft and Transportation Service Expenses | 2021 2020 2019 Landing and navigation fees 11,705 10,857 17,658 Ground service and other charges 9,442 7,886 8,933 21,147 18,743 26,591 |
Promotion and selling expenses
Promotion and selling expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Promotion and Selling Expenses | 2021 2020 2019 Ticket office expenses 2,809 2,935 3,299 Sales commissions 773 842 2,214 Computer reservation services 413 352 959 Advertising and promotion 140 121 314 Others 570 757 969 4,705 5,007 7,755 |
General and administrative ex_2
General and administrative expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of General and Administrative Expenses | 2021 2020 2019 General corporate expenses 3,282 3,572 3,692 Auditors’ remuneration 15 20 20 - Audit services 14 17 18 - Non-audit 1 3 2 Credit losses (1 ) 164 13 Other taxes and levies 367 332 348 3,663 4,088 4,073 |
Depreciation and amortization (
Depreciation and amortization (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Depreciation and amortization | 2021 2020 2019 Depreciation of property, plant and equipment 8,835 8,824 9,029 Depreciation of right-of-use 14,888 15,388 15,263 Other amortization 518 378 328 24,241 24,590 24,620 |
Staff costs (Tables)
Staff costs (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Staff Costs | 2021 2020 2019 Salaries, wages and welfare 23,441 22,592 24,647 Defined contribution retirement scheme 2,802 2,183 2,794 Other retirement welfare subsidy 50 72 206 26,293 24,847 27,647 |
Other net income (Tables)
Other net income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Net Income | 2021 2020 2019 Government grants (Note) 4,040 4,209 4,129 Gains/( losses -Aircraft and spare engines and construction in progress 149 (18 ) 34 -Other property, plant and equipment and right-of-use assets 214 75 106 Others 364 420 855 4,767 4,686 5,124 |
Interest expense (Tables)
Interest expense (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Interest Expense | 2021 2020 2019 Interest on borrowings 2,448 1,914 1,840 Interest relating to lease liabilities (Note 21) 4,434 5,180 5,302 Total interest expense on financial liabilities not at fair value through profit or loss 6,882 7,094 7,142 Less: interest expense capitalized (Note) (701 ) (363 ) (1,279 ) 6,181 6,731 5,863 Interest rate swaps: cash flow hedge, reclassified from equity (Note 17) 21 (15 ) (18 ) 6,202 6,716 5,845 Note: The weighted average interest rate used for interest capitalization was 2.61% per annum in 2021 (2020: 2.51%; 2019: 3.51%). |
Income tax (Tables)
Income tax (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Income Tax (Credit)/Expense in Consolidated Income Statement | (a) Income tax (credit)/expense in the consolidated income statement 2021 RMB million 2020 RMB million 2019 RMB million PRC income tax –Provision for the year 2,159 1,716 1,611 –Under - 35 48 10 2,194 1,764 1,621 Deferred tax (Note 29) Origination and reversal of temporary differences (5,088 ) (5,132 ) (650 ) Income tax (credit)/expense (2,894 ) (3,368 ) 971 |
Reconciliation between actual income tax credit/expenses and calculated tax based on accounting (loss)/profit at applicable income tax rates | (b) Reconciliation between actual income tax (credit)/expense and calculated tax based on accounting (loss)/profit at applicable income tax rates 2021 RMB million 2020 RMB million 2019 RMB million (Loss)/profit before income tax (13,910 ) (15,195 ) 4,055 Notional tax on (loss)/profit before taxation, calculated at the rates applicable to (loss)/profits in the tax jurisdictions concerned (Note 16(a)) (3,380 ) (3,667 ) 964 Adjustments for tax effect of: Non-deductible 96 102 18 Share of results of associates and joint ventures and other non-taxable (70 ) 111 (50 ) Unused tax losses and deductible temporary differences for which no deferred tax assets were recognized 489 80 62 Utilization of unused tax losses and deductible temporary differences for which no deferred tax assets were recognized in prior years (32 ) (8 ) (3 ) Under - 35 48 10 Super deduction of research and development expenses (32 ) (34 ) (30 ) Income tax (credit)/expense (2,894 ) (3,368 ) 971 |
Other comprehensive income (Tab
Other comprehensive income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Comprehensive Income | 2021 RMB million 2020 RMB million 2019 RMB million Cash flow hedges: Effective portion of changes in fair value of hedging instruments recognized during the year 21 (30 ) (54 ) Reclassification adjustments for amounts transferred to profit or loss: - interest expense (Note 15) 21 (15 ) (18 ) Net deferred tax (debited)/credited to other comprehensive income (10 ) 11 17 32 (34 ) (55 ) Equity investments measured at FVOCI: Changes in fair value recognized during the year (236 ) (250 ) (31 ) Net deferred tax credited to other comprehensive income 60 63 7 (176 ) (187 ) (24 ) Share of other comprehensive income of associates Will not be reclassified to profit or loss (2 ) (2 ) 3 May be reclassified subsequently to profit or loss 3 (3 ) — 1 (5 ) 3 Differences resulting from the translation of foreign currency financial statements — 8 (7 ) Other comprehensive income for the year (143 ) (218 ) (83 ) |
(Loss)_earnings per share (Tabl
(Loss)/earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of (Loss)/Earnings per Share | 2021 million 2020 million 2019 million Issued ordinary shares at January 1 15,329 12,267 12,267 Effect of issuance of shares 872 1,790 — Weighted average number of ordinary shares at December 31 16,201 14,057 12,267 |
Property, plant and equipment_2
Property, plant and equipment, net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Property, plant and equipment, net | Investment properties RMB million Buildings RMB million Aircraft RMB million Other flight equipment including rotables RMB million Machinery, equipment and vehicles RMB million Total RMB million Cost: At January 1 , 470 16,046 113,276 24,385 8,253 162,430 Additions — 12 1,435 542 935 2,924 Transferred from construction in progress (Note 20) — 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 — — 2,780 — — 2,780 Disposals - disposals — (152 ) (6,830 ) (399 ) (558 ) (7,939 ) - disposal of a subsidiary — (99 ) — — (34 ) (133 ) At December 31, 2020 522 21,475 114,380 25,025 9,936 171,338 At January 1 , 522 21,475 114,380 25,025 9,936 171,338 Additions — 66 2,855 487 668 4,076 Transferred from construction in progress (Note 20) — 2,097 8,796 434 486 11,813 Reclassification on change of holding intention: - transferred to other property, plant and equipment, net (32 ) 32 — — — — - transferred from other property, plant and equipment, net 50 (50 ) — — — — Transfer to assets held for sale (Note 35) — — (6,309 ) (152 ) — (6,461 ) Transferred from right-of-use — — 2,761 — — 2,761 Others 9 — — — — 9 Disposals (c) (8 ) (115 ) (6,393 ) (441 ) (556 ) (7,513 ) At December 31, 2021 541 23,505 116,090 25,353 10,534 176,023 Investment properties RMB million Buildings RMB million Aircraft RMB million Other flight equipment including rotables RMB million Machinery, equipment and vehicles RMB million Total RMB million Accumulated depreciation and impairment losses: At January 1 , 166 4,917 54,177 13,119 5,263 77,642 Depreciation charge for the year 23 618 5,744 1,493 946 8,824 Reclassification on change of holding intention: - transferred from other property, plant and equipment, net 21 (21 ) — — — — Transferred from right-of-use — — 982 — — 982 Disposals - disposals — (59 ) (4,588 ) (372 ) (483 ) (5,502 ) - disposal of a subsidiary — (15 ) — — (11 ) (26 ) Provision for impairment losses — — 3,202 75 2 3,279 Impairment losses written off on disposals — — — (7 ) — (7 ) At December 31, 2020 210 5,440 59,517 14,308 5,717 85,192 At January 1 , 210 5,440 59,517 14,308 5,717 85,192 Depreciation charge for the year 16 712 5,673 1,394 1,040 8,835 Reclassification on change of holding intention: - transferred to other property, plant and equipment, net (19 ) 19 — — — — - transferred from other property, plant and equipment, net 35 (35 ) — — — — Transfer to assets held for sale (Note 35) — — (2,746 ) (66 ) — (2,812 ) Transferred from right-of-use — — 1,202 — — 1,202 Disposals (6 ) (28 ) (4,270 ) (406 ) (414 ) (5,124 ) Provision for impairment losses (a) — — 914 80 — 994 Impairment losses transfer to assets held for sale (Note 35) — — (2,581 ) (60 ) — (2,641 ) Impairment losses written off on disposals (c) — — (809 ) — — (809 ) At December 31, 2021 236 6,108 56,900 15,250 6,343 84,837 Net book value: At December 31, 2021 305 17,397 59,190 10,103 4,191 91,186 At December 31, 2020 312 16,035 54,863 10,717 4,219 86,146 (a) As at December 31, 2021, the Group reported aircraft and related equipment in the amount of RMB199,407 million. For the year ended December 31, 2021, the Group made impairment provision of RMB2,579 million in aggregate towards certain aged or market value declined aircraft and related equipment based on its fleet disposal plans. Among which, the impairment provision for owned aircraft and related equipment were RMB994 million, and the impairment provision for leased aircraft and related equipment were RMB1,585 million (Note 21). Provision were made when asset’s carrying amount exceed its recoverable amount. The estimated recoverable amounts of above aircraft and related equipment with impairment indications were based on the fair value less cost to sell, which was determined by reference to the recent observable market prices for those aircraft and related equipment or appraisal results valued by external appraisal expert based on the cost method. (b) As at December 31, 2021, no property, plant and equipment of the Group were mortgaged for bank borrowings (December 31, 2020: Nil ). (c) During the year, the Group disposed certain aircraft directly and disposed certain aircraft through sale and leaseback agreement, against which cost, accumulated depreciation and impairment losses of the aircraft had been reduced with an aggregate amount of RMB4,042 million, RMB2,728 million and RMB809 million respectively. During the year, the Group derecognized certain aircraft under finance lease agreements as a lessor, against which cost and accumulated depreciation of the aircraft had been reduced with an aggregate amount of RMB792 million and RMB0 respectively, and a long-term receivable was recognized accordingly. As at December 31, 2021, the balance of long-term receivable was RMB783 million (including the balance due within one year) (Note 26). (d) As at December 31, 2021 and up to the date of approval of these financial statements, the Group is in the process of applying for the property title certificates in respect of the certain properties located in mainland China, in which the Group has interests and for which such certificates have not been granted. As at December 31, 2021, carrying value of such properties of the Group amounted to RMB10,554 million (December 31, 2020: RMB10,226 million). The Directors of the Company are of the opinion that the use of and the conduct of operating activities at the properties referred to above are not affected by the fact that the Group has not yet obtained the relevant property title certificates. (e) The Group leased out investment properties and facilities under operating leases. The leases typically run for an initial period of one to fifteen years, with an option to renew the leases after that date at which time all contract terms are renegotiated. In this connection, rental income total |
Future Minimum Lease Income under Non-cancellable Operating Leases | The Group’s total future minimum lease income under non-cancellable 2021 2020 RMB million RMB million Within 1 year 47 66 After 1 year but within 5 years 130 120 After 5 years 72 97 249 283 |
Summary of Comparison of Depreciation Method of Components | The comparison of depreciation method of components related to engine overhaul costs before and after the change is detailed as below: 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% |
Construction in progress (Table
Construction in progress (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Construction in Progress | Advance payment for aircraft and flight RMB million Others Total At January 1, 2020 30,919 8,303 39,222 Additions 8,858 4,637 13,495 Transferred to property, plant and equipment (Note 19) (4,216 ) (7,060 ) (11,276 ) Transferred to right-of-use (6,219 ) (2,440 ) (8,659 ) Transferred to others — (375 ) (375 ) At December 31, 2020 29,342 3,065 32,407 At January 1, 2021 29,342 3,065 32,407 Additions 10,464 1,821 12,285 Transferred to property, plant and equipment (Note 19) (9,230 ) (2,583 ) (11,813 ) Transferred to right-of-use (454 ) (61 ) (515 ) Transferred to others — (517 ) (517 ) At December 31, 2021 30,122 1,725 31,847 |
Right-of use assets (Tables)
Right-of use assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of right to use of assets | Aircraft and engines RMB million Land use rights RMB million Buildings RMB million Others RMB million Total RMB million Cost: At January 1 , 215,381 4,022 2,790 392 222,585 Additions 6,526 45 412 190 7,173 Transfer from construction in progress (Note 20) 5,993 2,440 — 226 8,659 Transferred to property, plant and equipment on exercise of purchase option (Note 19) (2,780 ) — — — (2,780 ) Disposals - disposals (4,419 ) — (180 ) — (4,599 ) - disposal of a subsidiary — (26 ) — (43 ) (69 ) At December 31, 2020 220,701 6,481 3,022 765 230,969 At January 1 , 220,701 6,481 3,022 765 230,969 Additions 3,493 343 1,194 243 5,273 Transfer from construction in progress (Note 20) 302 61 — 152 515 Transferred to property, plant and equipment on exercise of purchase option (Note 19) (2,761 ) — — — (2,761 ) Transferred to assets held for sale (Note 35) (1,582 ) — — — (1,582 ) Disposals (5,959 ) (75 ) (931 ) (26 ) (6,991 ) At December 31, 2021 214,194 6,810 3,285 1,134 225,423 Aircraft and engines RMB million Land use rights RMB million Buildings RMB million Others RMB million Total RMB million Accumulated amortization and impairment losses: At January 1 , 67,890 813 637 34 69,374 Amortization charge for the year 14,167 134 997 90 15,388 Transferred to property, plant and equipment on exercise of purchase option (Note 19) (982 ) — — — (982 ) Disposals - disposals (4,419 ) — (132 ) — (4,551 ) - disposal of a subsidiary — — — (7 ) (7 ) Provision for impairment losses 682 — — — 682 At December 31, 2020 77,338 947 1,502 117 79,904 At January 1 , 77,338 947 1,502 117 79,904 Amortization charge for the year 13,616 140 954 178 14,888 Transferred to property, plant and equipment on exercise of purchase option (Note 19) (1,202 ) — — — (1,202 ) Transferred to assets held for sale (Note 35) (616 ) — — — (616 ) Disposals (5,959 ) — (913 ) (21 ) (6,893 ) Provision for impairment losses (Note 19(a)) 1,585 — — — 1,585 Impairment losses transfer to assets held for sale (Note 35) (682 ) — — — (682 ) At December 31, 2021 84,080 1,087 1,543 274 86,984 Net book value: At December 31, 2021 130,114 5,723 1,742 860 138,439 At December 31, 2020 143,363 5,534 1,520 648 151,065 |
Summary of analysis of expense items in relation to leases recognised in profit or loss | In addition to the amortization charged, the analysis of expense items in relation to leases recognized in profit or loss is as follows: 2021 RMB million 2020 RMB million 2019 RMB million Interest on lease liabilities (Note 15) 4,434 5,180 5,302 Interest rate swaps: cash flow hedge, reclassified from equity (Note 15) 21 (15 ) (18 ) Expense relating to short-term leases 1,241 1,257 2,092 Expense relating to leases of variable lease payments not included in the measurement of lease liabilities 124 106 81 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Goodwill | 2021 RMB million 2020 RMB million Cost and carrying amount: 237 237 |
Goodwill Allocated Cash-Generating Units | Impairment tests for cash-generating units containing goodwill 2021 RMB million 2020 RMB million Southern Airlines Group Import and Export Trading Company (“SAIETC”) 182 182 Xiamen Airlines Culture and Media Co., Ltd. 55 55 Total 237 237 |
Subsidiaries (Tables)
Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Statement [LineItems] | |
List of Particular Subsidiaries Principally Affect Results, Assets or Liabilities | All the subsidiaries of the Company are unlisted. The following list contains only the particulars of subsidiaries which principally affect the results, assets or liabilities of the Group. Name of company Place of establishment/ operation Registered capital Proportion of ownership interest held by the Company Principal activity China Southern Airlines Henan Airlines Company Limited (i) PRC RMB 6,000,000,000 60 % Airline transportation Xiamen Airlines Company Limited PRC RMB 14,000,000,000 55 % Airline transportation Chongqing Airlines Company Limited (i) PRC RMB 1,200,000,000 60 % Airline transportation Shantou Airlines Company Limited (i) PRC RMB 280,000,000 60 % Airline transportation Zhuhai Airlines Company Limited (i) PRC RMB 250,000,000 60 % Airline transportation Guizhou Airlines Company Limited (i) PRC RMB 1,281,000,000 60 % Airline transportation Guangzhou Nanland Air Catering Company Limited (ii) PRC RMB 240,000,000 70.50 % Air catering Beijing Southern Airlines Ground Services PRC RMB 100,000,000 100 % Airport ground services Nan Lung International Freight Limited Hong Kong HKD 3,270,000 51 % Freight services China Southern Airlines General PRC RMB 1,342,280,000 57.88 % General aviation Name of company Place of establishment/ operation Registered capital Proportion of ownership interest held by the Company Principal activity SAIETC (i) PRC RMB 30,000,000 100 % Import and export agent services Zhuhai Xiang Yi Aviation Technology Company Limited (i) PRC RMB 469,848,400 100 % Flight simulation services China Southern Airlines Xiongan Airlines Company Limited (i) PRC RMB 10,000,000,000 100 % Airline transportation China Southern Air Logistics Co., Ltd. (“Logistics Company”) (i) & (iv) PRC RMB 1,818,181,820 55 % Logistics operations Shenyang Northern Aircraft Maintenance Co., Ltd. (“Shenyang Aircraft Maintenance”) (i) & (vii) PRC RMB 31,520,545 100 % Aircraft repair and maintenance services Guangdong Southern Airline Pearl Aviation Services Company Limited (“Pearl Aviation Services”) (i) & (viii) PRC RMB 5,000,000 100 % Hotel management services Southern Airlines Nansha Finance Leasing (Guangzhou) Co.,Ltd. (i) PRC RMB 2,000,000,000 100 % Leasing services (i) These subsidiaries are PRC limited liability companies. (ii) This subsidiary is a sino-foreign equity joint venture company established in the PRC. (iii) CSAGA |
Summary of Group's Non-controlling Interests and Total Equity Attributable to Equity Shareholders | The above transactions had the following effect on the Group’s other reserves in equity: RMB million Cash consideration received from third parties on partial disposal of equity interests 332 Capital injection from third parties 510 Less: Portion of net assets of CSAGA disposed 667 Other reserves in equity 175 |
Shenyang Northern Aircraft Maintenance Co Ltd [member] | |
Statement [LineItems] | |
Financial Information Related to Acquisition | The above acquisitions had the following effect on the Group’s assets and liabilities on acquisition date: Recognized values on Non-current assets 31 Current assets 41 Non-current liabilities (6 ) Current liabilities (3 ) Total net identifiable assets 63 Analysis of the net inflow of cash and cash equivalents in respect of the acquisitions: Cash consideration paid (14 ) Cash and cash equivalents acquired 26 Net cash inflow 12 |
Guangdong Southern Airline Pearl Aviation Services Company Limited [member] | |
Statement [LineItems] | |
Financial Information Related to Acquisition | The above acquisitions had the following effect on the Group’s assets and liabilities on acquisition date: Recognized values on Non-current assets 19 Current assets 252 Current liabilities (257 ) Total net identifiable assets 14 Analysis of the net inflow of cash and cash equivalents in respect of the acquisitions: Cash consideration paid (9 ) Cash and cash equivalents acquired 173 Net cash inflow 164 |
Xiamen Airlines Company Limited [member] | |
Statement [LineItems] | |
Financial Information Related to Subsidiary with Material non-controlling Interests | • Set out below are the summarized information 2021 RMB million 2020 RMB million Non-controlling interests 45 % 45 % Current assets 3,137 2,292 Non-current 48,775 50,975 Current liabilities (18,601 ) (16,033 ) Non-current (13,781 ) (18,431 ) Net assets 19,530 18,803 Carrying amount of non-controlling 9,103 8,809 Revenue 21,037 20,675 Loss for the year (938 ) (181 ) Total comprehensive income (1,071 ) (304 ) Loss allocated to non-controlling (455 ) (109 ) Dividend paid to non-controlling — 31 Net cash generated from operating activities 4,291 4,268 Net cash used in investing activities (1,099 ) (1,430 ) Net cash used in financing activities (2,529 ) (3,201 ) |
China Southern Air Logistics Co Ltd [member] | |
Statement [LineItems] | |
Financial Information Related to Subsidiary with Material non-controlling Interests | • Set out below are the summarized financial information for Logistics Company 2021 RMB million 2020 RMB million (Note) Non-controlling 45 % 45 % Current assets 12,124 8,479 Non-current 2,046 732 Current liabilities (3,505 ) (2,708 ) Non-current (91 ) (112 ) Net assets 10,574 6,391 Carrying amount of non-controlling 4,814 2,892 Revenue 19,659 15,397 Profit for the year 5,693 4,013 Total comprehensive income 5,693 4,013 Profit allocated to non-controlling 2,572 16 Dividend paid to non-controlling 650 2 Net cash generated from operating activities 6,872 5,241 Net cash used in investing activities (3,390 ) (1,468 ) Net cash (used)/generated from financing activities (2,486 ) 1,122 Note: On December 24, 2020, certain third parties made capital injections into Logistics Company Logistics Company Logistics Company |
Summary of Group's Non-controlling Interests and Total Equity Attributable to Equity Shareholders | The above transactions had the following effect on the Group’s other reserves in equity: RMB million Capital injection from third parties 3,355 Less: Portion of net assets of Logistics Company disposal 2,830 Other reserves in equity 525 |
Guangzhou Baiyun International Logistic Company Limited [member] | |
Statement [LineItems] | |
Summary of Group's Non-controlling Interests and Total Equity Attributable to Equity Shareholders | The above transactions had the following effect on the Group’s other reserves in equity: RMB million Cash consideration paid 260 Less: Portion of net assets of Baiyun Logistic acquired 105 Other reserves in equity 155 |
Interest in associates (Tables)
Interest in associates (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Statement [LineItems] | |
Summary of Principal Associates | 2021 2020 Share of net assets 2,637 2,449 All the Group’s associates are unlisted without quoted Proportion of ownership Place of / operation Group’s effective interest The Company Subsidiaries Proportion of voting rights held by the Group Principal activity China Southern Airlines Group Finance Company Limited (“Finance Company”) PRC 48.59 % 41.81 % 6.78 % 48.59 % Provision of airlines financial services Sichuan Airlines Co.,Ltd. (“Sichuan Airlines”) PRC 39 % 39 % — 39 % Airline transportation Southern Airlines Culture and Media Co., Ltd.(“SACM”) PRC 40 % 40 % — 40 % Advertising services Shenyang Konggang Logistic Co.,Ltd. (“Shenyang Konggang”) PRC 45 % 45 % — 45 % Ground services Beijing Xingming Lake Jinyan Hotel Co., Ltd. PRC 49 % — 49 % 49 % Catering and Shangzhou Aviation Logistics Co., Ltd. PRC 37.90 % — 37.90 % 37.90 % Airline transportation Beijing Airport Inflight Kitchen Co.,Ltd. PRC 30 % 30 % — 30 % Air catering services Xinjiang Civil Aviation Property Management Limited PRC 42.80 % 42.80 % — 42.80 % Property management |
Summarized Financial Information | The Group has interest in a number of individually immaterial joint ventures that are accounted for using the equity method. The aggregate financial information of these joint ventures is summarized as follows: 2021 RMB million 2020 RMB million 2019 RMB million Aggregate carrying amount of individually immaterial joint ventures 3,341 3,225 3,124 Aggregate amounts of the Group’s share of: Profit from continuing operations and total comprehensive income 271 309 365 |
Aggregated individually immaterial associates [member] | |
Statement [LineItems] | |
Summarized Financial Information | The Group has interest in a number of individually immaterial associates that are accounted for using the equity method. The aggregate financial information of these associates is summarized as following: 2021 RMB million 2020 RMB million 2019 RMB million Aggregate carrying amount of individually immaterial associates 2,637 2,449 3,322 Aggregate amounts of the Group’s share of: Profit/(loss) from continuing operations 9 (776 ) (178 ) Other comprehensive income 1 (5 ) 3 Total comprehensive income 10 (781 ) (175 ) |
Interest in joint ventures (Tab
Interest in joint ventures (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of joint ventures [line items] | |
Summary of Principal Joint Ventures | 2021 2020 Share of net assets 3,341 3,225 All the Group’s joint ventures are unlisted without quoted market price. The particulars of the Group’s principal joint ventures as at December 31, 2021 are as follows: Proportion of ownership Place of establishment/ operation Group’s effective interest The Company Subsidiaries Proportion of voting rights held by the Group Principal activity Guangzhou Aircraft Maintenance Engineering Co.,Ltd. (“GAMECO”) PRC 50 % 50 % — 50 % Aircraft repair and MTU Maintenance Zhuhai Co., Ltd. (“MTU”) PRC 50 % 50 % — 50 % Aircraft repair and |
Summarized Financial Information | The Group has interest in a number of individually immaterial joint ventures that are accounted for using the equity method. The aggregate financial information of these joint ventures is summarized as follows: 2021 RMB million 2020 RMB million 2019 RMB million Aggregate carrying amount of individually immaterial joint ventures 3,341 3,225 3,124 Aggregate amounts of the Group’s share of: Profit from continuing operations and total comprehensive income 271 309 365 |
Financial assets (Tables)
Financial assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Financial Assets | Notes 2021 2020 Other equity instrument investments (FVOCI) (i) - Non-listed 40 100 - Non-tradable 523 699 563 799 Other non-current (i) - Listed shares 68 64 - Non-listed 27 28 Other non-current (ii) - Long-term receivables 494 — 589 92 Notes: (i) Dividend income generated from the investments amounted to RMB4 million for the year of 2021 in total (2020: RMB23 million). (ii) During the year ended December 31, 2021, the Group derecognized certain aircraft under finance lease agreements as a lessor and recognized long-term receivables. As at December 31, 2021, long-term receivables (including the portion due within one year) was RMB783 million (Note 19(c)), among which RMB183 million was recorded in the amounts due from related parties (Note 42(a)). |
Derivative financial liabilit_2
Derivative financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Derivative Financial Instruments | Notes 2021 RMB million 2020 RMB million Current liabilities: Forward foreign exchange and foreign exchange options contracts (i) — 56 Derivative component of convertible bonds (ii i 1,222 3,092 1,222 3,148 Non-current Interest rate swaps (ii) -Measured at FVOCI — 42 -Measured at FVPL 20 11 20 53 Notes: (i) The Group entered into forward foreign exchange and foreign exchange options contracts to mitigate its forward currency risk and all the forward foreign exchange and foreign exchange options contracts have been settled in 2021. As at December 31, 2020, the fair value of the forward foreign exchange and foreign exchange options contracts amounted to RMB56 million was recognized in liabilities, with notional principal amounted to USD400 million. (ii) In 2015, the Group entered into interest rate swaps to mitigate its cash flow interest rate risk. The interest rate swaps allow the Group to pay at fixed rate from 1.64% to 1.72% per annum to receive LIBOR. The notional principal of the outstanding interest rate swap contracts as at December 31, 2021 amounted to USD 190 million (December 31, 2020: USD258 million). (i ii In October 2020, the Group issued a total of 160,000,000 A share convertible bonds with par value of RMB100 each at par. The convertible bonds have a term of six years from the date of the issuance and the convertible bonds bear interest at the annual rate of 0.2% in the first year, 0.4% in the second year, 0.6% in the third year, 0.8% in the fourth year, 1.5% in the fifth year and 2.0% in the sixth year. Interest is paid once a year. Conversion rights are exercisable from April 21 , , Any excess of proceeds over the fair value amount initially recognized as the derivative component is recognized as the host liability component. Transaction costs related to the issuance of the convertible bonds are allocated to the host liability and are recognized initially as part of the liability. The derivative component is subsequently remeasured at fair value while the host liability component is subsequently carried at amortized cost using the effective interest method (Note 36(a)). For the year ended December 31, 2021, 101,034,070 convertible bonds were converted to A shares at the conversion price of RMB 6.24 per share, RMB 1,619 million was credited to share capital. As at December 31, 2021, the carrying amount of liability component of the remaining 58,965,930 A share convertible bonds was RMB 4,992 million (December 31, 2020: 160,000,000 A share convertible bonds with a carrying amount of RMB 12,833 million) (Note 36(a)), and the fair value of the derivative component of remaining 58,965,930 A share convertible bonds was RMB1,222 million (December 31, 2020: 160,000,000 A share convertible bonds with fair value of RMB 3,092 million). For the year ended December 31, 2021, the loss on the changes in fair value of the derivative component amounted to RMB 269 million was recognized (December 31, 2020: gain on the changes in fair value amounted to RMB 201 million) (Note 28). |
Changes in fair value of fina_2
Changes in fair value of financial assets / (liabilities) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Statement of changes in equity [abstract] | |
Summary of Changes in fair value of financial assets / (liabilities) | 2021 2020 Other non-current 3 (14 ) Interest rate swaps measured at FVPL 17 (11 ) Forward foreign exchange and foreign exchange options contracts (60 ) (107 ) Derivative component of convertible bonds (Note 27(iii)) (269 ) 201 Cross currency swaps — (16 ) (309 ) 53 |
Deferred tax assets _ (liabil_2
Deferred tax assets / (liabilities) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Statement [LineItems] | |
Detailed Information about Temporary Differences and Tax Losses | (b) Reconciliation to the consolidated statement of financial position: 2021 RMB million 2020 RMB million Net deferred tax asset recognized 12,823 7,739 Net deferred tax liability recognized (26 ) (80 ) 12,797 7,659 |
Summary of Reconciliation to the Consolidated Statement of Financial Position | (a) Movements of net deferred tax assets are as follows: At December 31, 2020 RMB million (Charged)/ credited to consolidated income statement RMB million (Charged)/ comprehensive income RMB million At December 31, 2021 RMB million For the year ended December 31, 2021 Deferred tax assets: Net effect on right-of-use 1,307 268 — 1,575 Accrued expenses 1,456 86 — 1,542 Provision for major overhauls 361 122 — 483 Contract liabilities/other non-current 57 (1 ) — 56 Provision for impairment losses 1,118 375 — 1,493 Provision for tax losses 4,288 3,805 — 8,093 Change in fair value of derivative financial liabilities 10 22 (10 ) 22 Change in fair value of other equity instrument investments — — 15 15 Depreciation allowances under tax in excess of the related depreciation under accounting — 74 — 74 Others 130 12 — 142 8,727 4,763 5 13,495 Deferred tax liabilities: Accrued expenses (144 ) 138 — (6 ) Depreciation allowances under tax in excess of the related depreciation under accounting (669 ) 150 — (519 ) Change in fair value of other equity instrument investments (166 ) — 45 (121 ) Change in fair value of other non-current (16 ) (1 ) — (17 ) Change in fair value of derivative financial liabilities (34 ) 34 — — Fair value re-measurement (27 ) 2 — (25 ) Others (12 ) 2 — (10 ) (1,068 ) 325 45 (698 ) Net deferred tax assets 7,659 5,088 50 12,797 At December 31, 2019 RMB million (Charged)/ credited to consolidated income statement Credited to other comprehensive income RMB million At December 31, 2020 RMB million For the year ended December 31, 2020 Deferred tax assets: Net effect on right-of-use 1,823 (516 ) — 1,307 Accrued expenses 1,114 342 — 1,456 Provision for major overhauls 262 99 — 361 Contract liabilities/other non-current 68 (11 ) — 57 Provision for impairment losses 81 1,037 — 1,118 Provision for tax losses 7 4,281 — 4,288 Change in fair value of derivative financial liabilities — — 10 10 Others 114 16 — 130 3,469 5,248 10 8,727 Deferred tax liabilities: Accrued expenses (191 ) 47 — (144 ) Depreciation allowances under tax in excess of the related depreciation under accounting (478 ) (191 ) — (669 ) Change in fair value of derivative financial assets (1 ) — 1 — Change in fair value of other equity instrument investments (229 ) — 63 (166 ) Change in fair value of other non-current (20 ) 4 — (16 ) Change in fair value of derivative financial liabilities (54 ) 20 — (34 ) Fair value re-measurement (29 ) 2 — (27 ) Others (14 ) 2 — (12 ) (1,016 ) (116 ) 64 (1,068 ) Net deferred tax assets 2,453 5,132 74 7,659 Deferred tax assets arise from deductible temporary differences and unused tax losses are recognized to the extent that it is probable that future taxable profits will be available against which the related tax benefit can be utilized. Notice of the Ministry of Finance on the Taxation Policy for supporting the prevention of pandemic of Covid-19 |
Temporary differences [member] | |
Statement [LineItems] | |
Detailed Information about Temporary Differences and Tax Losses | The expiry dates of unrecognized unused tax losses are analyzed as follows: 2021 RMB million 2020 RMB million Expiring in : 2021 — 92 2022 82 82 2023 109 110 2024 336 337 2026 1,515 — 2028 978 437 3,020 1,058 |
Other assets (Tables)
Other assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Assets | Software RMB million Leasehold improvements RMB million Others RMB million (Note) Total RMB million At January 1, 2020 482 251 1,246 1,979 Additions 70 46 804 920 Transferred from construction in progress 277 79 — 356 Amortisation for the year (221 ) (92 ) (65 ) (378 ) At December 31, 202 0 608 284 1,985 2,877 At January 1, 202 1 608 284 1,985 2,877 Additions 83 43 253 379 Transferred from construction in progress 474 28 — 502 Disposal — (7 ) (4 ) (11 ) Amortisation for the year (330 ) (105 ) (83 ) (518 ) Provision for impairment losses — (18 ) — (18 ) At December 31, 2021 835 225 2,151 3,211 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Inventories | 2021 RMB million 2020 RMB million Consumable spare parts and maintenance materials 1,559 1,613 Other supplies 173 219 1,732 1,832 Less: provision (80 ) (72 ) 1,652 1,760 |
Impairment of Inventory | Provision for inventories is shown as below: 2021 RMB million 2020 RMB million At January 1 72 54 Provision for inventories 17 56 Written - (9 ) (38 ) At December 31 80 72 |
Trade and Other receivables (Ta
Trade and Other receivables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Trade Receivables | 2021 RMB million 2020 RMB million Trade receivables 2,897 2,568 Less: loss allowance (39 ) (43 ) 2,858 2,525 |
Ageing Analysis of Trade Receivables Based on Transaction Date | Credit terms granted by the Group to sales agents and other customers generally range from one to three months. Ageing analysis of trade receivables based on transaction date is set out below: 2021 RMB million 2020 RMB million Within 1 month 2,337 1,972 More than 1 month but less than 3 months 273 307 More than 3 months but less than 12 months 236 231 More than 1 year 51 58 2,897 2,568 Less: loss allowance (39 ) (43 ) 2,858 2,525 |
Trade Receivables by Currencies | The carrying amounts of the Group’s trade receivables are denominated in the following currencies: 2021 2020 RMB 2,631 2,446 USD 195 48 EURO 16 13 HKD 11 9 AUD 9 7 BDT 7 9 Others 28 36 2,897 2,568 |
Summary of Other Receivables | Notes 2021 RMB million 2020 VAT recoverable 7,854 6,072 Government grants receivables (i) 474 523 Rebate receivables on aircraft acquisitions 302 497 Other deposits 155 170 Others (ii) 972 1,244 9,757 8,506 Less: loss allowance (iii) (158 ) (159 ) 9,599 8,347 Notes: (i) Government grants receivables are recognized as there is reasonable assurance that they will be received and the Group has complied with the conditions attaching to them. (ii) The amounts include term deposits of RMB227 million (December 31, 2020: RMB287 million), which have a maturity over 3 months at acquisition. The weighted average annualized interest rate of term deposits as at December 31, 2021 was 1.95% (December 31, 2020: 2.07%). (iii) The Group lost control of Flying College in December 2020 (Note23(v)). As at December 31, 2021 and 2020, prepayment of training expenses made to Flying College amounting to |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Cash and Cash Equivalents | (a) Cash and cash equivalents comprise: 2021 2020 Deposits in banks and other financial institutions 1 5 Cash at bank and other financial institutions and on hand 21,455 25,414 Cash and cash equivalents in the consolidated statement of financial position 21,456 25,419 |
Cash and Cash Equivalents by Currencies | The carrying amounts of the Group’s cash and cash equivalents are denominated in the following currencies: 2021 2020 RMB 20,457 24,947 USD 782 272 EURO 88 64 AUD 20 15 JPY 12 21 HKD 31 15 Others 66 85 21,456 25,419 |
Reconciliation of (loss)/Profit before Income Tax to Cash Generated from Operating Activities | (b) Reconciliation of (loss)/profit before income tax to cash generated from operating activities Note 2021 2020 2019 (Loss) / profit before income tax (13,910 ) (15,195 ) 4,055 Adjustments for: Depreciation and amortization 12 24,241 24,590 24,620 Impairment losses on property, plant, equipment 19 994 3,279 18 Impairment losses on right-of-use 21 1,585 682 — Impairment losses on other assets 30 18 — — Credit losses 11 (1 ) 164 13 Share of associates’ results 24 (9 ) 776 178 Share of joint ventures’ results 25 (271 ) (309 ) (365 ) Gain on disposal of property, plant and equipment and construction in progress 14 (363 ) (57 ) (140 ) Changes in fair value of financial assets/ liabilities 28 309 (53 ) (265 ) Remeasurement of the originally held equity interests in a joint venture — — (13 ) Interest income (675 ) (322 ) (74 ) Interest expense 15 6,202 6,716 5,845 Dividends income from other non-current 26 (4 ) (23 ) (23 ) Exchange (gain)/losses, net (1,524 ) (3,170 ) 1,268 Loss on disposal of a subsidiary 23(v) — 8 — Decrease / (increase) in inventories 31 108 133 (179 ) Decrease in contract liabilities and other non-current (85 ) (134 ) (337 ) (Decrease) / increase in sales in advance of carriage (281 ) (6,306 ) 1,709 (Decrease) / increase in deferred benefits and gains 46 (44 ) (64 ) 73 (Increase) / decrease in operating receivables (1,593 ) 1,408 1,165 Increase / (decrease) in operating payables 580 (1,396 ) 2,180 Cash generated from operating activities 15,277 10,727 39,728 |
Summary of Reconciliation of Liabilities Arising from Financing Activities | (c) Reconciliation of liabilities arising from financing activities Bank loans and other borrowings RMB million Lease liabilities RMB million Interest rate swaps RMB million Derivative Total RMB million (Note 36) (Note 37) (Note 27) (Note 27) At January 1 , 78,233 121,213 53 3,092 202,591 Changes from financing cash flows: Proceeds from bank borrowings 76,910 — — — 76,910 Proceeds from corporate bonds 9,000 — — — 9,000 Proceeds from ultra-short-term financing bills 82,500 — — — 82,500 Repayment of bank borrowings (70,437 ) — — — (70,437 ) Repayment of ultra-short-term financing bills (68,900 ) — — — (68,900 ) Repayment of corporate bonds (3,749 ) — — — (3,749 ) Capital element of lease rentals paid(Note 34(d)) — (21,613 ) — — (21,613 ) Total changes from financing cash flows 25,324 (21,613 ) — — 3,711 Exchange adjustments — (1,474 ) — — (1,474 ) Changes in fair value — — (33 ) 269 236 Other changes: Increase in lease liabilities from entering into new leases during the year (Note 52) — 4,623 — — 4,623 Conversion of convertible bonds to ordinary shares (Note 52) (8,317 ) — — (2,139 ) (10,456 ) Amortization amount of convertible bonds 456 — — — 456 Accrued interest expense 571 — — — 571 Total other changes (7,290 ) 4,623 — (2,139 ) (4,806 ) At December 31, 2021 96,267 102,749 20 1,222 200,258 Bank loans and other borrowings Lease liabilities Interest rate swaps Cross currency swaps Derivative component of convertible bonds Total RMB million RMB million RMB million RMB million RMB million RMB million (Note 36) (Note 37) (Note 27) (Note 27) At January 1, 2020 51,180 134,074 (3 ) (187 ) — 185,064 Changes from financing cash flows: Proceeds from bank borrowings 71,841 — — — — 71,841 Proceeds from ultra-short-term financing bills 48,300 — — — — 48,300 Proceeds from corporate bonds 25,000 — — — — 25,000 Repayment of bank borrowings (52,601 ) — — — — (52,601 ) Repayment of ultra-short-term financing bills (59,800 ) — — — — (59,800 ) Repayment of corporate bonds (2,655 ) — — — — (2,655 ) Capital element of lease rentals paid(Note 34(d)) — (20,670 ) — — — (20,670 ) Total changes from financing cash flows 30,085 (20,670 ) — — — 9,415 Exchange adjustments 142 (3,526 ) — 171 — (3,213 ) Changes in fair value — — 56 16 (201 ) (129 ) Other changes: Increase in lease liabilities from entering into new leases during the year (Note 5 2 — 11,335 — — — 11,335 Amount initially recognized as the derivative component of convertible bonds (3,293 ) — — — 3,293 — Amortization amount of convertible bonds 119 — — — — 119 Total other changes (3,174 ) 11,335 — — 3,293 11,454 At December 31, 2020 78,233 121,213 53 — 3,092 202,591 |
Summary of cash outflow related to leases | (d) Total cash outflow for leases Amounts included in the cash flow statement for leases comprise the following: 2021 2020 2019 RMB million RMB million RMB million Within operating cash flows (5,794 ) (6,528 ) (7,457 ) Within investing cash flows (343 ) (45 ) (224 ) Within financing cash flows (21,613 ) (20,670 ) (17,784 ) (27,750 ) (27,243 ) (25,465 ) |
Summary of change in classification of cash flows of certain rentals paid on leases | These amounts relate to the following: 2021 2020 2019 RMB million RMB million RMB million Lease rentals paid (27,407 ) (27,198 ) (25,241 ) Acquisition of land use rights (343 ) (45 ) (224 ) (27,750 ) (27,243 ) (25,465 ) |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Statement [LineItems] | |
Summary of Borrowings | (a) Borrowings are analyzed as follows: 2021 2020 RMB million RMB million Non-current Long-term borrowings 15,389 8,811 Corporate bonds (Note (ii)) 1,000 7,500 Convertible bonds (Note 27(iii)) 4,984 12,833 Medium-term notes (Note (iii)) 16,981 8,990 38,354 38,134 Current Current portion of long-term 169 67 Short-term borrowings 25,116 25,286 Ultra-short-term financing bills 24,710 10,999 Current portion of corporate bonds and medium-term notes (Notes (ii)&(iii)) 7,910 3,747 Current portion of convertible bonds (Note 27(iii)) 8 — 57,913 40,099 Total borrowings 96,267 78,233 The borrowings are repayable: Within one year 57,913 40,099 In the second year 18,611 7,662 In the third to fifth year 16,747 14,394 After the fifth year 2,996 16,078 Total borrowings 96,267 78,233 (a) Borrowings are analyzed as follows (continued): Notes: (i) As at December 31, 2021, the Group did not have any secured bank borrowings (December 31, 2020: Nil). (ii) The Company issued corporate bonds with aggregate nominal value of RMB5,000 million on May 25 , The Company issued corporate bonds with aggregate nominal value of RMB2,000 million on November 26 , The Company issued corporate bonds with aggregate nominal value of RMB3,000 million on February 21 , years. As at December 31, 2021, the corporate bonds will mature within 1 year. The Company issued corporate bonds with aggregate nominal value of RMB2,000 million on May 16, 2019 at a bond rate of 3.72 % per annum with a term of 3 years. As at December 31, 2021, the corporate bonds will mature within 1 year. Xiamen Airlines, a subsidiary of the Group, issued corporate bonds with aggregate nominal value of RMB1,500 million on November 20, 2019 at a bond rate of 3.58% per annum with a term of 3 years. As at December 31, 2021, the corporate bonds will mature within 1 year. Xiamen Airlines issued corporate bonds with aggregate nominal value of RMB1,000 million on March 16, 2020 at a bond rate of 2.95% per annum with a term of 3 years. As at December 31, 2021, the corporate bonds will mature over 1 year. (iii) The Company issued medium-term notes with aggregate nominal value of RMB1,000 million in 2019 at an annual interest rate of 3.20% with a term of 3 years. As at December 31, 2021, the medium-term notes will mature within 1 year. The Company issued medium-term notes with aggregate nominal value of RMB8,000 million in 2020 at annual interest rates ranging from 2.44% to 3.28% with terms of 3 to 5 years. As at December 31, 2021, the medium-term notes will mature over 1 year. The Company issued medium-term notes with aggregate nominal value of RMB9,000 million in 2021 at annual interest rates ranging from 2.90% to 3.20% with terms of 3 years. As at December 31, 2021, the medium-term notes will mature over 1 year. (b) As at December 31, 2021, the Group’s weighted average interest rates on short-term borrowings were 2.20% per annum (December 31, 2020: 2.23% per annum). |
Borrowings by Currencies | (d) The carrying amounts of the borrowings are denominated in the following currencies: 2021 2020 RMB million RMB million Renminbi 96,267 78,233 |
Non-current borrowings [member] | |
Statement [LineItems] | |
Summary of Borrowings | (c) Details of borrowings with original maturity over one year are as follows: 2021 2020 RMB million RMB million Renminbi denominated borrowings Fixed interest rate at 1.20%~4.00% per annum as at December 31, 2021 12,483 8,028 Corporate bond - Fixed interest rate at 2.95%~3.72% 7,666 9,649 Convertible bond - Fixed interest rate (Note27(iii)) 4,992 12,833 Medium-term notes - Fixed interest rate at 2.44%~3.28% 18,225 10,588 Floating interest rates at 74%~92% of benchmark interest rate (stipulated by PBOC) as at December 31, 2021 3,075 850 46,441 41,948 Less: borrowings due within one year classified as current liabilities (8,087 ) (3,814 ) 38,354 38,134 |
Lease liabilities (Tables)
Lease liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Lease liabilities [abstract] | |
Lease liabilities | At December 31, 2021, the lease liabilities were payable as follows: 2021 2020 RMB million RMB million Within 1 year 20,805 20,930 After 1 year but within 2 years 19,229 20,045 After 2 years but within 5 years 38,950 47,164 After 5 years 23,765 33,074 102,749 121,213 |
Summary of lease liabilities demonimated by currencies | Obligations by denominated currencies For the year ended December 31, 2021 Effective USD RMB million Japanese RMB million Renminbi RMB million Euro RMB million Other RMB million Total RMB million Fixed interest rates 1.78%~4.90% 38,254 9 12,780 8 19 51,070 Floating interest rates 0.42%~5.22% 5,524 514 43,091 2,550 — 51,679 43,778 523 55,871 2,558 19 102,749 Obligations by denominated currencies For the year ended December 31, 2020 Effective interest rate USD RMB million Japanese RMB million Renminbi RMB million Euro RMB million Other currencies RMB million Total RMB million Fixed interest rates 1.75 % ~ % 43,519 6 10,268 14 16 53,823 Floating interest rates 0 % ~ % 9,343 1,019 53,659 3,243 126 67,390 52,862 1,025 63,927 3,257 142 121,213 |
Trade payables (Tables)
Trade payables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Ageing Analysis of Trade Payables Based on Transaction Date | Ageing analysis of trade payables based on transaction date is set out below: 2021 2020 RMB million RMB million Within 1 month 403 431 More than 1 month but less than 3 months 221 473 More than 3 months but less than 6 months 221 313 More than 6 months but less than 1 year 268 329 More than 1 year 215 236 1,328 1,782 |
Trade Payables by Currencies | The carrying amounts of the Group’s trade payables are denominated in the following currencies: 2021 2020 RMB million RMB million Renminbi 891 1,587 USD 431 165 Others 6 30 1,328 1,782 |
Contract liabilities (Tables)
Contract liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Contract Liabilities | 2021 2020 RMB million RMB million Unredeemed credits under the frequent flyer award programs (Note) 1,459 1,451 Others 83 62 1,542 1,513 Note: As at December 31, 2021, unredeemed credits under the frequent flyer award programs represent the aggregated amounts of the transaction price allocated to the remaining performance obligation, which is expected to be recognized as revenue in the future when the customers obtain control of the goods or services. Movement of unredeemed credits under the frequent flyer award programs is set out below: 2021 2020 RMB million RMB million Balance at January 1 3,196 3,331 -Current 1,451 1,568 -Non-current 1,745 1,763 Addition as a result of increase of the unredeemed credits under the frequent flyer award programs 1,628 1,270 Reduction as a result of revenue recognized during the year (1,763 ) (1,405 ) -Recognized as revenue from opening balance of contract liabilities (1,344 ) (1,192 ) -Recognized as revenue from current year addition of contract liabilities (419 ) (213 ) Balance at December 31 3,061 3,196 Representing: -Current 1,459 1,451 -Non-current 1,602 1,745 |
Other non-current liabilities (
Other non-current liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Non-current Liabilities | 2021 2020 Note RMB million RMB million Unredeemed credits under the frequent flyer award programs 39 1,602 1,745 Long-term payables (Note) 193 291 Others 29 — 1,824 2,036 Note: In 2020, the Group disposed certain aircraft through sale and leaseback agreement, and the long-term payables were additional financing provided by buyer-lessor to the Group in aircraft sale and leaseback transactions. As at December 31, 2021, long-term payables of RMB193 million (December 31, 2020: RMB 291 million) were additional financing provided by buyer-lessor to the Group in aircraft sale and leaseback transactions, and the current portion of long-term payables of RMB98 million (December 31, 2020: RMB 94 million) was recorded in other liabilities. |
Balances with related compani_2
Balances with related companies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Amounts Due from/to Related Companies | (a) Amounts due from related companies 2021 2020 Note RMB million RMB million Current CSAH and its affiliates 14 10 Associates 72 57 Joint ventures 28 18 Other related company 1 — 50(c) 115 85 2021 2020 RMB million RMB million Non-current Associates 50(c) 151 — The amounts due from associates include long-term receivables of RMB183 million (including the portion due within one year) relating to a finance lease arrangement (Note(26)(ii)). Other than that, the remaining amounts due from related companies are unsecured, interest free and have no fixed terms of repayment. They are expected to be recovered within one year. (b) Prepayments to related companies for acquisition of long-term assets 2021 2020 Note RMB million RMB million Non-current CSAH and its affiliates 719 639 Associates 495 495 Joint ventures 88 88 30&50(c) 1,302 1,222 (c) Amounts due to related companies 2021 2020 Note RMB million RMB million Current CSAH and its affiliates 174 225 Associates 14 13 Joint ventures 175 119 50(c) 363 357 The amounts due to related companies are unsecured, interest free and have no fixed terms of repayment. They are expected to be settled within one year. |
Accrued expenses (Tables)
Accrued expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Accrued Expenses | 2021 2020 RMB million RMB million Repairs and maintenance 5,477 5,268 Salaries and welfare 4,457 4,328 Landing and navigation fees 1,855 2,121 Jet fuel costs 1,524 961 Computer reservation services 457 575 Provision for major overhauls (Note 45) 124 426 Air catering expenses 75 74 Interest expense — 512 Others 1,510 1,655 15,479 15,920 |
Other liabilities (Tables)
Other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Liabilities | 2021 2020 RMB million RMB million Payable for purchase of property, plant and equipment 3,420 3,432 Civil Aviation Development Fund and airport tax payable 714 885 Sales agent deposits 446 485 Other taxes payable 501 328 Deposit received for chartered flights 259 239 Others 2,438 2,104 7,778 7,473 |
Provision for major overhauls (
Provision for major overhauls (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Details of Provision for Major Overhauls in Respect of Aircraft Held under Operating Leases | Details of provision for major overhauls in respect of aircraft held under leases are as follows: 2021 2020 RMB million RMB million At January 1 4,642 4,425 Additional provision 714 760 Utilization (412 ) (543 ) At December 31 4,944 4,642 Less: current portion (Note 43) (124 ) (426 ) 4,820 4,216 |
Deferred benefits and gains (Ta
Deferred benefits and gains (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Deferred Benefits and Gains | 2021 2020 RMB million RMB million Maintenance rebates 485 531 Government grants 233 229 Others 7 9 725 769 |
Share capital (Tables)
Share capital (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Share Capital | 2021 2020 RMB million RMB million Registered, issued and paid up capital: Trade-restricted: 2,453,434,457 A shares of RMB1.00 each owned by CSAH (2020: 2,942,637,115 shares of RMB1.00 each) (Note 2,453 2,942 0 H shares of RMB1.00 each (2020: 1,209,621,577 shares of RMB1.00 each) (Note — 1,210 2,453 4,152 Tradable: 6,147,463,051 A shares of RMB1.00 each owned by CSAH (2020: 4,039,228,665 shares of RMB1.00 each) (Notes (ii) & (iii)) 6,147 4,039 4,072,395,671 4,073 4,073 4,275,144,849 H shares of RMB1.00 each (Note 4,275 3,065 14,495 11,177 16,948 15,329 Notes: (i) All the A and H shares rank pari passu in all material respects. (ii) For the year ended December 31, 2021, 101,034,070 convertible bonds were converted to A shares at the conversion price of RMB6.24 per share. RMB1,619 million was credited to share capital and RMB8,837 million was credited to share premium respectively. (iii) In September 2018, the Company issued 1,578,073,089 A shares (“2018 A shares”) to CSAH and other six entities, and the 2018 A shares issued to CSAH are restricted for trading within 36 months upon completion of the issuance. During the year ended December 31, 2021 (iv) In September 2018 and April 2020, the Company issued 600,925,925 H shares (“2018 H shares”) and 608,695,652 H shares (“2020 H shares”) to a fellow subsidiary of CSAH. Considering that the 2018 H shares and the 2020 H shares are not subject to restrictions on sales in nature, the 2018 H shares and the 2020 H shares were reclassified from trade-restricted shares to tradable shares during the year ended December 31, 2021. |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Capital Commitments Outstanding not Provided for in Financial Statements | Capital commitments outstanding as at December 31, 2021 not provided for in the financial statements were as follows: 2021 2020 RMB million RMB million Commitments in respect of aircraft and flight equipment – authorized and contracted for 54,662 56,547 Investment commitments – authorised and contracted for – share of capital commitments of a joint venture 185 405 – capital contributions for acquisition of interests in an associate 171 — – authorized but not contracted for – share of capital commitments of a joint venture 24 26 380 431 Commitments for other property, plant and equipment – authorized and contracted for 3,796 4,970 – authorized but not contracted for 5,785 5,479 9,581 10,449 64,623 67,427 |
Approximate Total Future Payments, Including Estimated Amounts for Price Escalation through Anticipated Delivery Dates for Aircraft and Flight Equipment | As at December 31, 2021, the approximate total future payments, including estimated amounts for price escalation through anticipated delivery dates for aircraft and flight equipment are as follows: 2021 2020 RMB million RMB million 2021 — 28,382 2022 33,165 15,033 2023 15,093 11,910 2024 6,404 1,222 54,662 56,547 |
Material related party transa_2
Material related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Statement [LineItems] | |
Details of Balances with Related Parties | Remuneration for key management personnel of the Group, including amounts paid to the Company’s directors (excluding independent non-executive 2021 2020 2019 RMB ’000 RMB ’000 RMB ’000 Salaries, wages and welfare 12,353 10,746 13,803 Retirement scheme contributions 1,854 1,458 1,785 14,207 12,204 15,588 2021 2020 2019 RMB ’000 RMB ’000 RMB ’000 Directors and supervisors (Note 5 8 1,733 1,590 1,298 Senior management 12,474 10,614 14,290 14,207 12,204 15,588 |
Details of Significant Transactions with Related Parties | Details of the significant transactions carried out by the Group are as follows: 2021 2020 2019 Note RMB million RMB million RMB Income from CSAH and its affiliates Rental income (i) 7 7 7 Aviation material sales income (ii) 4 7 36 Entrusted management income (iii) 39 27 27 Commission income (iv) 18 5 14 Others 4 2 1 Purchase of goods and services from CSAH and its affiliates Commission expenses (v) 39 36 44 Maintenance material purchase expense and lease charges for maintenance material s (ii) 106 91 165 Air catering supplies expenses (i) 84 88 142 Lease charges for land and buildings (vi) 407 350 353 Property management fee (vii) 154 129 151 Others 8 7 7 Purchase of goods and services from joint ventures and associates Repairing charges (viii) 2,474 1,773 2,442 Repairing charges and maintenance material purchase expenses (ix) 2,124 2,331 2,956 Ground service expenses (x) 13 131 112 Air catering supplies (xi) 3 18 93 Advertising expenses (xii) 131 169 196 Property management fee (xiii) 17 18 26 Lease charges for land and buildings (xiv) 14 — — Commission expenses (xv) 6 10 14 Others 50 16 7 Income received from joint ventures and associates Maintenance material sales and handling income (xvi) 30 14 7 Entrustment income for advertising media business (xii) 2 2 1 Repairing income (xv) 12 12 4 Air catering supplies income (xv) 10 8 35 Pilot training income (xv) 19 15 35 Ground service income (xv)&(xviii) 18 16 16 Transfer of pilots income (xv) 24 — — Aircraft leasing income (xvii) 4 — — Labor service income and rental income (xix) — — 8 Others 15 9 15 2021 2020 2019 Note RMB RMB RMB Purchase of goods and services from other related companies Computer reservation services (xx) 465 433 685 Aviation supplies expenses (xxi) — — 53 Canteen service (xxi) — — 24 Others — — 9 Aircraft related transactions with CSAH and its affiliates Payment of lease charges on aircraft (xxii) 5,323 4,670 2,696 (i) Shenzhen Air Catering Co., Ltd. (“SACC”) is an associate of CSAH. Air catering supplies expenses are payable by the Group in respect of certain in-flight In addition, the Group leased certain land and buildings, equipment to SACC under operating lease agreements. (ii) China Aviation Supplies Holding Company (“CASC”) is an associate of CSAH. The Group purchases software service, as well as purchases and leases maintenance materials from CASC, and CASC also purchases maintenance materials from the Group. (iii) China Northern Airlines Co., Ltd. (“CNAC”) is a wholly-owned subsidiary of CSAH. The Group provides entrusted management service to CSAH and CNAC. (iv) China Southern Airlines Insurance Brokerage Co., Ltd. (“SAIB”), is a wholly-owned subsidiary of CSAH. The Group provides certain website resources to SAIB for the sales of air insurance. (v) Commission is earned by Shenzhen Baiyun Air Service Co.,Ltd., a wholly-owned subsidiary of CSAH, in connection with the air tickets sold by them on behalf of the Group. Commission is calculated based on the rates stipulated by the Civil Aviation Administration of China and International Air Transportation Association. (vi) The Group leases certain land and buildings in the PRC from CSAH and its affiliates. The amount represents rental expenses for land and buildings paid or payable to CSAH and its affiliates. (vii) China Southern Airlines Group Property Management Co., Ltd., a wholly-owned subsidiary of CSAH, and COHL&CSAH Construction Development Co.,Ltd., a joint venture of CSAH, both provide property management services to the Group. (viii) MTU, a joint venture of the Group, provides comprehensive maintenance services to the Group. (ix) GAMECO, a joint venture of the Group, and Shenyang Aircraft Maintenance, a former joint venture of the Group, both provide comprehensive maintenance services and leases maintenance materials to the Group. Shenyang Aircraft Maintenance became a wholly-owned subsidiary of the Group on April 23, 2019. The Group also purchases maintenance material from GAMECO. (x) Beijing Aviation Ground Services Co.,Ltd. and Shenyang Konggang, associates of the Group provide ground services to the Group. (xi) Beijing Airport Inflight Kitchen Co.,Ltd. is an associate of the Group and provides air catering related services to the Group. (xii) SACM, an associate of the Group, provides advertising services to the Group. The Group provides certain media resources to SACM. (xiii) Xinjiang Civil Aviation Property Management Ltd., an associate of the Group, provides property management services to the Group. (xiv) Beijing Xingming Lake Jinyan Hotel Co., Ltd. an associate of the Group, provides land and buildings lease services to the Group. (xv) The Group provides repairing service and air catering supplies service to Sichuan Airlines. Commission is earned by Sichuan Airlines in connection with the air tickets sold on behalf of the Group. In addition, the Group provides pilot training service, ground services and transferred pilots to Sichuan Airlines. (xvi) The Group imports and sells maintenance materials to GAMECO and MTU, and earns maintenance materials sales and handling income. (xvii) The Group provides aircraft lease service to Sichuan Airlines and earns aircraft leasing income. (xviii) The Group provides ground services to Shenyang Konggang, which is an associate of the Group. (xix) The Group provides labor service to Shenyang Aircraft Maintenance, and the charge rates are determined by reference to prevailing market price. In addition, the Group leases certain property and equipment to Shenyang Aircraft Maintenance. (xx) China Travel Sky Holding Company is a related party of the Group as a key management personnel of the Group was appointed as the director of China Travel Sky Holding Company. It provides computer reservation services to the Group. (xxi) The chairman of Pearl Aviation Services is the key management personnel of the Company. The Group purchases aviation supplies and canteen services from Pearl Aviation Services. In December 2019, Pearl Aviation Services became a wholly-owned subsidiary of the Group. (xxii) China Southern Airlines International Finance Leasing Co., Ltd. (“CSA International”), originally a wholly owned subsidiary of CSAH, and became a joint venture of CSAH in 2019, provides aircraft and engines lease services to the Group. Also, the Group disposed aircraft to CSA International. |
Details of Balances with Related Parties | (i) Loans from Finance Company At December 31, 2021, loans from Finance Company to the Group amounted to The unsecured loans are repayable as follows: 2021 2020 Within 1 year 2,978 1,515 After 1 year but within 2 years 40 111 After 2 years but within 5 years — 60 3,018 1,686 Interest expense paid on such loans amounted to RMB76 million (2020: RMB27 million) and the interest rates range from 3.00% to 3.30% per annum during the year ended December 31, 2021 (2020: 3.00% to 4.28%). (v) Deposits placed with Finance Company As at December 31, 2021, the Group’s deposits with Finance Company are presented in the table below. The applicable interest rates are determined in accordance with the rates published by the PBOC. 2021 2020 Deposits placed with Finance Company 12,621 9,092 |
Southern Airlines Group Finance Co.,Ltd [member] | |
Statement [LineItems] | |
Details of Balances with Related Parties | Details of amounts due from/to CSAH and its affiliates, associates, joint ventures and other related company of the Group: 2021 2020 Note RMB million RMB million Current receivables: CSAH and its affiliates 14 10 Associates 72 57 Joint ventures 28 18 Other related company 1 — 42(a) 115 85 2021 2020 Note RMB million RMB million Long-term receivables: Associates 151 — 42(a) 151 — 2021 2020 Note RMB million RMB million Prepayments of acquisition of long-term assets: CSAH and its affiliates 719 639 Associates 495 495 Joint ventures 88 88 30&42(b) 1,302 1,222 2021 2020 Note RMB million RMB million Payables: CSAH and its affiliates 174 225 Associates 14 13 Joint ventures 175 119 42(c) 363 357 2021 2020 Accrued expenses: CSAH and its affiliates 27 47 Associates 57 73 Joint ventures 1,277 1,927 Other related companies 612 459 1,973 2,506 Lease liabilities: The CSAH and its affiliates 24,084 26,789 |
Supplementary Information to _2
Supplementary Information to the Consolidated Cash Flow Statement (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of Non Cash Transactions [Abstract] | |
Summary of detailed information about non cash transactions | 2021 2020 Lease of aircraft 4,623 11,335 Convertible bonds converted to A shares 10,456 — |
Directors' and supervisors' e_2
Directors' and supervisors' emoluments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Remuneration of Every Director and Supervisor | The remuneration of every director and supervisor for the year ended December 31, 2021 is set out below: Name Directors’ fees Salaries, wages and Housing Employer’s Total RMB ‘000 RMB ‘000 RMB ‘000 RMB ‘000 RMB ‘000 Executive directors Ma Xu Lun (Note (i)) — — — — — Han Wen Sheng (Note (i) — — — — — Supervisors Li Jia Shi ( Notes (ii)&(xii))) — — — — — Ren Ji Dong(Notes (iii)&(xiii)) — 667 — 131 798 Lin Xiao Chun — 655 — 147 802 Mao Juan (Note ( x — 478 — 134 612 Yang Bin (Note ( xi — 294 — 25 319 Independent non-executive directors Liu Chang Le (Note ( ix 133 — — — 133 Guo Wei (Note ( ix 133 — — — 133 Yan Yan (Note ( ix 133 — — — 133 Gu Hui Zhong 153 — — — 153 Tan Jin Song (Note ( viii 50 — — — 50 Jiao Shu Ge (Note ( viii 50 — — — 50 Zheng Fan (Note ( viii 20 — — — 20 The remuneration of every director and supervisor for the year ended December 31, 2020 is set out below: Directors’ fees Salaries, Housing Employer’s Total Name RMB ’000 RMB ’000 RMB ’000 RMB ’000 RMB ’000 Executive directors Wang Chang Shun ( Notes (i)&(vii)) — — — — — Ma Xu Lun (Note (i)) — — — — — Han Wen Sheng (Note (i)) — — — — — Supervisors Li Jia Shi (Note (ii)) — — — — — Mao Juan — 706 — 126 832 Lin Xiao Chun — 633 — 125 758 Independent non-executive Tan Jin Song 150 — — — 150 Jiao Shu Ge 150 — — — 150 Zheng Fan (Note (iv 60 — — — 60 Gu Hui Zhong (Note (iv 60 — — — 60 The remuneration of every director and supervisor for the year ended December 31, 2019 is set out below: Name Directors’ fees Salaries, Housing Employer’s a retirement Total RMB ‘000 RMB ‘000 RMB ‘000 RMB ‘000 RMB ‘000 Executive directors Wang Chang Shun (Note (i)) — — — — — Ma Xu Lun ( Notes (i)&(v) — — — — — Han Wen Sheng (Note s (i)&(v — — — — — Zhang Zi Fang (Notes (i)&(vi) — — — — — Supervisors Pan Fu(Notes (i)&(vi)) — — — — — Li Jia Shi (Note (ii)) — — — — — Mao Juan — 712 — 129 841 Lin Xiao Chun (Note (v)) — 367 — 90 457 Independent non-executive directors Tan Jin Song 150 — — — 150 Jiao Shu Ge 150 — — — 150 Zheng Fan (Note ( iv 60 — — — 60 Gu Hui Zhong (Note ( iv 60 — — — 60 Notes: (i) These directors or supervisors did not receive any remuneration for their services in the capacity of the directors or supervisors of the Company. They also held management positions in CSAH and their salaries were borne by CSAH. (ii) Mr. Li Jia Shi did not receive any remuneration for his service in the capacity of the supervisor of the Company since February 1, 2018. He also held management position in CSAH and his salary was borne by CSAH. (iii) Mr. Ren Ji Dong did not receive any remuneration for his service in the capacity of the supervisor of the Company but received salary for his service in the capacity of the senior management in 2021. He also held management position in CSAH and his salary for his services was borne by CSAH since November 2021. (iv) In 2020 and 2019, Mr. Zheng Fan and Mr. Gu Hui Zhong received remuneration in accordance with the relevant provisions of the PRC. |
Possible impact of amendments_2
Possible impact of amendments, new standards and interpretations issued but not yet effective for the year ended December 31, 2021 (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of New Standards or Interpretations Not Yet Adopted | Effective for accounting periods Amendments to IAS 37, Onerous Contracts — Cost of Fulfilling a Contract January 1, 2022 Annual Improvements to IFRS Standards 2018-2020 Cycle January 1, 2022 Amendments to IAS 16, Property, Plant and Equipment: Proceeds before Intended Use January 1, 2022 Amendments to IFRS 3, Reference to the Conceptual Framework January 1, 2022 Amendments to IAS 1, Classification of liabilities as current or non-current January 1, 2023 Amendments to IAS 1 and IFRS Practice Statement 2, Disclosure of accounting policies January 1, 2023 Amendments to IAS 8, Definition of accounting estimates January 1, 2023 Amendments to IAS 12, Deferred tax related to assets and liabilities arising from a single transaction January 1, 2023 |
Significant Accounting Polici_4
Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Not later than one year [member] | |
Disclosure of significant accounting policies [line items] | |
Short term leases term | 12 months |
Bottom of range [member] | |
Disclosure of significant accounting policies [line items] | |
Lease rent term | 30 years |
Top of range [member] | |
Disclosure of significant accounting policies [line items] | |
Lease rent term | 70 years |
Components related to overhaul costs [member] | Bottom of range [member] | |
Disclosure of significant accounting policies [line items] | |
Estimated useful lives for depreciation using straight line method | 6 years |
Components related to overhaul costs [member] | Top of range [member] | |
Disclosure of significant accounting policies [line items] | |
Estimated useful lives for depreciation using straight line method | 12 years |
Significant Accounting Polici_5
Significant Accounting Policies - Estimated Useful Lives for Depreciation Using Straight Line Method of Other Property, Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Buildings [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives for depreciation using straight line method | 5 years |
Buildings [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives for depreciation using straight line method | 35 years |
Owned aircraft [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives for depreciation using straight line method | 15 years |
Owned aircraft [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives for depreciation using straight line method | 20 years |
Jet engines [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives for depreciation using straight line method | 15 years |
Jet engines [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives for depreciation using straight line method | 20 years |
Others, including rotables | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives for depreciation using straight line method | 3 years |
Others, including rotables | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives for depreciation using straight line method | 15 years |
Machinery, equipment and vehicles | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives for depreciation using straight line method | 4 years |
Machinery, equipment and vehicles | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives for depreciation using straight line method | 10 years |
Financial Risk Management and_3
Financial Risk Management and Fair Values of Financial Instruments - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [line items] | |||
Amount of current liabilities exceeding current assets | ¥ 73,124 | ||
Net cash generated from operating activities | 7,688 | ¥ 2,698 | ¥ 31,175 |
Net cash used in investing activities | (15,820) | (8,049) | (14,427) |
Net cash generated from/(used in) financing activities | 4,186 | 28,945 | (21,833) |
Net increase/(decrease) in cash and cash equivalents | 3,946 | (23,594) | 5,085 |
Approximate maximum amount available of banking facilities with PRC banks and financial institutions for providing bank financing | 295,683 | 315,452 | |
Approximate unutilized bank financing | 204,051 | ||
Trade receivables | 2,858 | 2,525 | |
Credit loss allowance for other trade receivables | ¥ (1) | 164 | 13 |
Expected Credit Loss [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Measurement Input Of Loss Allowance For Other Receivable Equal To Period | 12 months | ||
Other trade receivables [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Credit loss allowance for other trade receivables | ¥ 17 | 15 | |
Billing and Settlement Plan agents [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Trade receivables | 329 | 293 | |
100 basis points increase in interest rates [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Increase/(decrease) on profit after tax and retained profits | 328 | 315 | 559 |
100 basis points decrease in interest rates [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Increase/(decrease) on profit after tax and retained profits | 328 | 315 | 559 |
10 percent increase in jet fuel price [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Increase/(decrease) on fuel cost | 2,551 | 1,880 | 4,281 |
10 percent decrease in jet fuel price [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Increase/(decrease) on fuel cost | ¥ (2,551) | ¥ (1,880) | ¥ (4,281) |
Financial Risk Management and_4
Financial Risk Management and Fair Values of Financial Instruments - Remaining Contractual Maturities of Non-derivative Financial Liabilities Based on Contractual Undiscounted Cash Flows (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings, Contractual undiscounted cash outflow | ¥ 101,005 | ¥ 86,338 |
Lease liabilities, Contractual undiscounted cash outflow | 119,160 | 140,776 |
Trade and other payables and accrued charges, Contractual undiscounted cash outflow | 20,097 | 20,892 |
Long-term payables, Contractual undiscounted cash outflow | 318 | 429 |
Non-derivative financial liabilities, Total contractual undiscounted cash outflow | 240,580 | 248,435 |
Borrowings, Carrying amount | 96,267 | 78,233 |
Lease liabilities, Carrying amount | 102,749 | 121,213 |
Trade and other payables and accrued charges, Carrying amount | 20,097 | 20,892 |
Long term payables, Carrying amount | 291 | 385 |
Non-derivative financial liabilities, Total carrying amount | 219,404 | 220,723 |
Within 1 year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings, Contractual undiscounted cash outflow | 59,167 | 41,378 |
Lease liabilities, Contractual undiscounted cash outflow | 25,331 | 25,752 |
Trade and other payables and accrued charges, Contractual undiscounted cash outflow | 20,097 | 20,892 |
Long-term payables, Contractual undiscounted cash outflow | 111 | 111 |
Non-derivative financial liabilities, Total contractual undiscounted cash outflow | 104,706 | 88,133 |
Borrowings, Carrying amount | 57,913 | 40,099 |
After 1 year but within 2 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings, Contractual undiscounted cash outflow | 19,428 | 8,350 |
Lease liabilities, Contractual undiscounted cash outflow | 22,764 | 23,989 |
Trade and other payables and accrued charges, Contractual undiscounted cash outflow | 0 | 0 |
Long-term payables, Contractual undiscounted cash outflow | 111 | 111 |
Non-derivative financial liabilities, Total contractual undiscounted cash outflow | 42,303 | 32,450 |
Borrowings, Carrying amount | 18,611 | 7,662 |
After 2 years but within 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings, Contractual undiscounted cash outflow | 18,824 | 15,420 |
Lease liabilities, Contractual undiscounted cash outflow | 45,142 | 54,653 |
Trade and other payables and accrued charges, Contractual undiscounted cash outflow | 0 | 0 |
Long-term payables, Contractual undiscounted cash outflow | 96 | 207 |
Non-derivative financial liabilities, Total contractual undiscounted cash outflow | 64,062 | 70,280 |
Borrowings, Carrying amount | 16,747 | 14,394 |
After 5 years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings, Contractual undiscounted cash outflow | 3,586 | 21,190 |
Lease liabilities, Contractual undiscounted cash outflow | 25,923 | 36,382 |
Trade and other payables and accrued charges, Contractual undiscounted cash outflow | 0 | 0 |
Long-term payables, Contractual undiscounted cash outflow | 0 | 0 |
Non-derivative financial liabilities, Total contractual undiscounted cash outflow | 29,509 | 57,572 |
Borrowings, Carrying amount | ¥ 2,996 | ¥ 16,078 |
Financial Risk Management and_5
Financial Risk Management and Fair Values of Financial Instruments - Sensitivity Analysis of Significant Foreign Exchange Rates and Impact on Profit after Tax and Retained Profits (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
1 percent appreciation of Renminbi against foreign currency [member] | USD [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Appreciation/ (depreciation) of Remninbi against foreign currency | 1.00% | 1.00% | 1.00% |
Increase/(decrease) on profit/(loss) after tax and retained profits | ¥ 322 | ¥ 367 | ¥ 434 |
1 percent appreciation of Renminbi against foreign currency [member] | EURO [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Appreciation/ (depreciation) of Remninbi against foreign currency | 1.00% | 1.00% | 1.00% |
Increase/(decrease) on profit/(loss) after tax and retained profits | ¥ 18 | ¥ 24 | ¥ 26 |
1 percent depreciation of Renminbi against foreign currency [member] | USD [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Appreciation/ (depreciation) of Remninbi against foreign currency | (1.00%) | (1.00%) | (1.00%) |
Increase/(decrease) on profit/(loss) after tax and retained profits | ¥ (322) | ¥ (367) | ¥ (434) |
1 percent depreciation of Renminbi against foreign currency [member] | EURO [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Appreciation/ (depreciation) of Remninbi against foreign currency | (1.00%) | (1.00%) | (1.00%) |
Increase/(decrease) on profit/(loss) after tax and retained profits | ¥ (18) | ¥ (24) | ¥ (26) |
10 percent appreciation of Renminbi against foreign currency [member] | JPY [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Appreciation/ (depreciation) of Remninbi against foreign currency | 10.00% | 10.00% | 10.00% |
Increase/(decrease) on profit/(loss) after tax and retained profits | ¥ 38 | ¥ 74 | ¥ 94 |
10 percent depreciation of Renminbi against foreign currency [member] | JPY [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Appreciation/ (depreciation) of Remninbi against foreign currency | (10.00%) | (10.00%) | (10.00%) |
Increase/(decrease) on profit/(loss) after tax and retained profits | ¥ (38) | ¥ (74) | ¥ (94) |
Financial Risk Management and_6
Financial Risk Management and Fair Values of Financial Instruments - Disclosure of Exposure to Credit Risk and Expected Credit Losses for Air Ticket Receivables (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of credit risk exposure [line items] | |||
Loss allowance | ¥ (1) | ¥ 164 | ¥ 13 |
Trade receivables [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loss allowance | ¥ 39 | ¥ 43 | ¥ 36 |
Trade receivables [member] | Within 3 month [member] | |||
Disclosure of credit risk exposure [line items] | |||
Expected loss rates % | 0.01% | 0.01% | |
Trade receivables [member] | More than 3 month but less than 1 year [member] | |||
Disclosure of credit risk exposure [line items] | |||
Expected loss rates % | 50.00% | 50.00% | |
Trade receivables [member] | After 1 year but within 2 years [member] | |||
Disclosure of credit risk exposure [line items] | |||
Expected loss rates % | 100.00% | 100.00% | |
Trade receivables [member] | More than 2 years but less than 3 years [member] | |||
Disclosure of credit risk exposure [line items] | |||
Expected loss rates % | 100.00% | 100.00% | |
Trade receivables [member] | More than 3 years [member] | |||
Disclosure of credit risk exposure [line items] | |||
Expected loss rates % | 100.00% | 100.00% | |
Gross carrying amount [member] | Trade receivables [member] | |||
Disclosure of credit risk exposure [line items] | |||
Gross carrying amount | ¥ 1,835 | ¥ 1,492 | |
Gross carrying amount [member] | Trade receivables [member] | Within 3 month [member] | |||
Disclosure of credit risk exposure [line items] | |||
Gross carrying amount | 1,811 | 1,461 | |
Gross carrying amount [member] | Trade receivables [member] | More than 3 month but less than 1 year [member] | |||
Disclosure of credit risk exposure [line items] | |||
Gross carrying amount | 5 | 7 | |
Gross carrying amount [member] | Trade receivables [member] | After 1 year but within 2 years [member] | |||
Disclosure of credit risk exposure [line items] | |||
Gross carrying amount | 1 | 6 | |
Gross carrying amount [member] | Trade receivables [member] | More than 2 years but less than 3 years [member] | |||
Disclosure of credit risk exposure [line items] | |||
Gross carrying amount | 3 | 5 | |
Gross carrying amount [member] | Trade receivables [member] | More than 3 years [member] | |||
Disclosure of credit risk exposure [line items] | |||
Gross carrying amount | 15 | 13 | |
Loss allowance [member] | Trade receivables [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loss allowance | 22 | 28 | |
Loss allowance [member] | Trade receivables [member] | Within 3 month [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loss allowance | |||
Loss allowance [member] | Trade receivables [member] | More than 3 month but less than 1 year [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loss allowance | 3 | 4 | |
Loss allowance [member] | Trade receivables [member] | After 1 year but within 2 years [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loss allowance | 1 | 6 | |
Loss allowance [member] | Trade receivables [member] | More than 2 years but less than 3 years [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loss allowance | 3 | 5 | |
Loss allowance [member] | Trade receivables [member] | More than 3 years [member] | |||
Disclosure of credit risk exposure [line items] | |||
Loss allowance | ¥ 15 | ¥ 13 |
Financial Risk Management and_7
Financial Risk Management and Fair Values of Financial Instruments - Schedule of Movement in the Allowances for Loan Losses (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of financial assets [line items] | ||
Prior Year | ¥ 164 | ¥ 13 |
Current Year | (1) | 164 |
Trade receivables [member] | ||
Disclosure of financial assets [line items] | ||
Prior Year | 43 | 36 |
Amounts written off during the year | (4) | (3) |
Impairment losses written back | (5) | (1) |
Impairment losses recognized during the year | 5 | 11 |
Current Year | ¥ 39 | ¥ 43 |
Financial Risk Management and_8
Financial Risk Management and Fair Values of Financial Instruments - Disclosure Of Detailed Information About Reconciliation Of Changes In Allowance For Loss Allowance And Explanation Of Changes In Gross Carrying Amount For Financial Instruments Explanatory (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of financial assets [line items] | ||
Prior Year | ¥ 164 | ¥ 13 |
Current Year | (1) | 164 |
Other Receivables [member] | ||
Disclosure of financial assets [line items] | ||
Prior Year | 159 | 5 |
Accrual | 2 | 156 |
Reversal | (3) | (2) |
Write-off | 0 | 0 |
Current Year | 158 | 159 |
Stage One Twelve Month Expected Credit Losses [Member] | Other Receivables [member] | ||
Disclosure of financial assets [line items] | ||
Prior Year | 2 | 1 |
Accrual | 2 | 3 |
Reversal | (3) | (2) |
Write-off | 0 | 0 |
Current Year | 1 | 2 |
Stage Two Lifetime ECLs (not credit-impaired) [Member] | Other Receivables [member] | ||
Disclosure of financial assets [line items] | ||
Prior Year | 9 | 4 |
Accrual | 0 | 5 |
Reversal | 0 | 0 |
Write-off | 0 | 0 |
Current Year | 9 | 9 |
Stage Three Lifetime ECLs (credit-impaired) [Member] | Other Receivables [member] | ||
Disclosure of financial assets [line items] | ||
Prior Year | 148 | 0 |
Accrual | 0 | 148 |
Reversal | 0 | 0 |
Write-off | 0 | 0 |
Current Year | ¥ 148 | ¥ 148 |
Financial Risk Management and_9
Financial Risk Management and Fair Values of Financial Instruments - Carrying Value of Financial Instruments Measured at Fair Value on a Recurring Basis (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of fair value measurement of assets [line items] | |||
Other non-current financial assets | ¥ 3,211 | ¥ 2,877 | ¥ 1,979 |
Derivative financial liabilities | (1,222) | (3,148) | |
Recurring fair value measurement [member] | Non listed shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other equity instruments investments | 40 | 100 | |
Other non-current financial assets | 27 | 28 | |
Recurring fair value measurement [member] | Non-tradable shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other equity instruments investments | 523 | 699 | |
Recurring fair value measurement [member] | Listed shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other non-current financial assets | 68 | 64 | |
Recurring fair value measurement [member] | Interest rate swaps [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | (20) | (53) | |
Recurring fair value measurement [member] | Derivative component of convertible bonds [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | (1,222) | (3,092) | |
Recurring fair value measurement [member] | Forward Foreign exchange and foreign exchange options contracts [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | (56) | ||
Level 1 [Member] | Recurring fair value measurement [member] | Non listed shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other equity instruments investments | 0 | 0 | |
Other non-current financial assets | 0 | 0 | |
Level 1 [Member] | Recurring fair value measurement [member] | Non-tradable shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other equity instruments investments | 0 | 0 | |
Level 1 [Member] | Recurring fair value measurement [member] | Listed shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other non-current financial assets | 68 | 64 | |
Level 1 [Member] | Recurring fair value measurement [member] | Interest rate swaps [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | 0 | 0 | |
Level 1 [Member] | Recurring fair value measurement [member] | Derivative component of convertible bonds [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | 0 | 0 | |
Level 1 [Member] | Recurring fair value measurement [member] | Forward Foreign exchange and foreign exchange options contracts [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | 0 | ||
Level 2 [Member] | Recurring fair value measurement [member] | Non listed shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other equity instruments investments | 0 | 0 | |
Other non-current financial assets | 0 | 0 | |
Level 2 [Member] | Recurring fair value measurement [member] | Non-tradable shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other equity instruments investments | 0 | 0 | |
Level 2 [Member] | Recurring fair value measurement [member] | Listed shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other non-current financial assets | 0 | 0 | |
Level 2 [Member] | Recurring fair value measurement [member] | Interest rate swaps [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | (20) | (53) | |
Level 2 [Member] | Recurring fair value measurement [member] | Derivative component of convertible bonds [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | (1,222) | (3,092) | |
Level 2 [Member] | Recurring fair value measurement [member] | Forward Foreign exchange and foreign exchange options contracts [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | (56) | ||
Level 3 [Member] | Recurring fair value measurement [member] | Non listed shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other equity instruments investments | 40 | 100 | |
Other non-current financial assets | 27 | 28 | |
Level 3 [Member] | Recurring fair value measurement [member] | Non-tradable shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other equity instruments investments | 523 | 699 | |
Level 3 [Member] | Recurring fair value measurement [member] | Listed shares [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Other non-current financial assets | 0 | 0 | |
Level 3 [Member] | Recurring fair value measurement [member] | Interest rate swaps [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | 0 | 0 | |
Level 3 [Member] | Recurring fair value measurement [member] | Derivative component of convertible bonds [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | ¥ 0 | 0 | |
Level 3 [Member] | Recurring fair value measurement [member] | Forward Foreign exchange and foreign exchange options contracts [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Derivative financial liabilities | ¥ 0 |
Financial Risk Management an_10
Financial Risk Management and Fair Values of Financial Instruments - Disclosure of Fair Value of Derivative Component of Convertible Bonds is Measured by Using the Binomial Model (Detail) - Convertible Bond [Member] - ¥ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Major Inputs used in the Binomial Model in the Fair value Measure of the Derivative Component of Convertible Bonds [Line Items] | ||
Conversion price | ¥ 6.24 | ¥ 6.24 |
Stock price of A shares | ¥ 6.47 | ¥ 6.01 |
Stock market volatility | 33.78% | 35.38% |
Risk-free interest rate | 2.59% | 3.14% |
Financial Risk Management an_11
Financial Risk Management and Fair Values of Financial Instruments - Quantitative Information of Valuation Technique and Significant Unobservable Inputs Used in Measuring Financial Instruments at Fair Value on a Recurring Basis (Detail) - Recurring fair value measurement [member] - Level 3 [Member] | 12 Months Ended |
Dec. 31, 2021 | |
Non listed shares [member] | Market comparable companies [member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |
Discount for lack of marketability | 32.00% |
Non listed shares [member] | Discounted cash flow [member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |
Perpetual dividend payout rates | 80.00% |
Non listed shares [member] | Discounted cash flow [member] | Bottom of range [member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |
Expected profit growth rates during the projection period | 10.00% |
Perpetual growth rates | 1.00% |
Expected dividend payout rates during the projection period | 27.00% |
Discount rates | 10.00% |
Non listed shares [member] | Discounted cash flow [member] | Top of range [member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |
Expected profit growth rates during the projection period | 28.00% |
Perpetual growth rates | 3.00% |
Expected dividend payout rates during the projection period | 33.00% |
Discount rates | 11.77% |
Non-tradable shares [member] | Discounted cash flow [member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |
Perpetual growth rates | 3.00% |
Perpetual dividend payout rates | 80.00% |
Expected dividend payout rates during the projection period | 28.00% |
Discount rates | 10.46% |
Non-tradable shares [member] | Discounted cash flow [member] | Bottom of range [member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |
Expected profit growth rates during the projection period | 1.00% |
Non-tradable shares [member] | Discounted cash flow [member] | Top of range [member] | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |
Expected profit growth rates during the projection period | 169.00% |
Operating Revenue - Summary of
Operating Revenue - Summary of Operation of Civil Aviation, Including the Provision of Passenger, Cargo, Mail Delivery, and Other Extended Transportation Services (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from contracts with customers within the scope of IFRS 15: | |||
Passenger | ¥ 75,392 | ¥ 70,534 | ¥ 138,502 |
Cargo and mail | 19,887 | 16,493 | 9,615 |
Commission income | 2,677 | 2,771 | 2,952 |
General aviation income | 572 | 508 | 564 |
Cargo handling income | 864 | 507 | 359 |
Hotel and tour operation income | 538 | 390 | 712 |
Ground services income | 326 | 210 | 409 |
Air catering service income | 271 | 273 | 353 |
Others | 885 | 689 | 654 |
Revenue from contract | 101,412 | 92,375 | 154,120 |
Rental income | 232 | 186 | 202 |
Revenue | ¥ 101,644 | ¥ 92,561 | ¥ 154,322 |
Operating Revenue - Additional
Operating Revenue - Additional Information (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | ||
Transaction price allocated to remaining performance obligation | ¥ 3,061 | ¥ 3,196 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2021Aircraft | |
Disclosure of operating segments [abstract] | |
Number of reportable operating segments | 2 |
Segment Reporting - Information
Segment Reporting - Information of Reportable Segments Provided to Chief Operating Decision Maker for Purposes of Resource Allocation and Assessment of Segment Performance (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of operating segments [line items] | ||||
Total operating revenue | ¥ 101,644 | ¥ 92,561 | ¥ 154,322 | |
(Loss)/profit before income tax | (13,910) | (15,195) | 4,055 | |
(Loss)/Profit for the year | (11,016) | (11,827) | 3,084 | |
Income tax | (2,894) | (3,368) | 971 | |
Interest income | 675 | 322 | 74 | |
Interest expense | 6,202 | 6,716 | 5,845 | |
Depreciation and amortization | 24,241 | 24,590 | 24,620 | |
Share of associates' results | 9 | (776) | (178) | |
Share of joint ventures' results | 271 | 309 | 365 | |
Remeasurement of the originally held equity interests in a joint venture | 0 | 0 | 13 | |
Total assets | 323,211 | 326,383 | ||
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 101,644 | 92,561 | 154,322 | |
(Loss)/profit before income tax | (13,903) | (15,186) | 4,070 | |
(Loss)/Profit for the year | (11,011) | (11,820) | 3,095 | |
Income tax | (2,892) | (3,366) | 975 | |
Interest income | 675 | 322 | 74 | |
Interest expense | 6,202 | 6,716 | 5,845 | |
Depreciation and amortization | 24,234 | 24,581 | 24,610 | |
Impairment loss | 2,614 | 4,017 | 38 | |
Credit loss | (1) | 164 | 13 | |
Share of associates' results | 9 | (776) | (178) | |
Share of joint ventures' results | 271 | 309 | 365 | |
Change in fair value of financial assets / liabilities | (309) | 53 | 265 | |
Remeasurement of the originally held equity interests in a joint venture | 13 | |||
Non-current assets additions during the year | [1] | 22,003 | 24,537 | 45,590 |
Total assets | 322,948 | 326,115 | ||
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Airline transportation operations [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 100,969 | 92,052 | 152,795 | |
(Loss)/profit before income tax | (13,769) | (14,727) | 3,020 | |
(Loss)/Profit for the year | (10,998) | (11,388) | 2,224 | |
Income tax | (2,771) | (3,339) | 796 | |
Interest income | 763 | 328 | 64 | |
Interest expense | 6,291 | 6,739 | 5,833 | |
Depreciation and amortization | 23,854 | 24,438 | 24,256 | |
Impairment loss | 2,596 | 4,015 | 38 | |
Credit loss | 1 | 153 | 11 | |
Share of associates' results | 0 | 0 | 0 | |
Share of joint ventures' results | 0 | 0 | 0 | |
Change in fair value of financial assets / liabilities | 0 | 0 | 0 | |
Remeasurement of the originally held equity interests in a joint venture | 0 | |||
Non-current assets additions during the year | [1] | 21,457 | 24,039 | 44,851 |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Other segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 4,675 | 4,175 | 5,532 | |
(Loss)/profit before income tax | (111) | (112) | 558 | |
(Loss)/Profit for the year | (67) | (61) | 446 | |
Income tax | (44) | (51) | 112 | |
Interest income | 15 | 26 | 41 | |
Interest expense | 26 | 11 | 43 | |
Depreciation and amortization | 380 | 143 | 354 | |
Impairment loss | 18 | 2 | 0 | |
Credit loss | (2) | 11 | 2 | |
Share of associates' results | 0 | 0 | 0 | |
Share of joint ventures' results | 0 | 0 | 0 | |
Change in fair value of financial assets / liabilities | 0 | 0 | 0 | |
Remeasurement of the originally held equity interests in a joint venture | 0 | |||
Non-current assets additions during the year | [1] | 905 | 547 | 739 |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Point in time [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 3,010 | 3,100 | 3,342 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Point in time [member] | Airline transportation operations [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 2,763 | 2,856 | 2,996 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Point in time [member] | Other segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 1,418 | 1,727 | 2,747 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Over time [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 98,634 | 89,461 | 150,980 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Over time [member] | Airline transportation operations [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 98,206 | 89,196 | 149,799 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Over time [member] | Other segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 3,257 | 2,448 | 2,785 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Reportable operating segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Total assets | 322,948 | 326,115 | ||
Total liabilities | 238,703 | 241,252 | ||
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Reportable operating segments [member] | Airline transportation operations [member] | ||||
Disclosure of operating segments [line items] | ||||
Total assets | 312,020 | 317,741 | ||
Total liabilities | 236,428 | 239,968 | ||
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Reportable operating segments [member] | Other segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Total assets | 5,909 | 6,019 | ||
Total liabilities | 2,640 | 2,237 | ||
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Elimination [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | (4,000) | (3,666) | (4,005) | |
(Loss)/profit before income tax | 2 | 1 | 2 | |
(Loss)/Profit for the year | 2 | 1 | 2 | |
Income tax | 0 | 0 | 0 | |
Interest income | (103) | (32) | (31) | |
Interest expense | (115) | (34) | (31) | |
Depreciation and amortization | 0 | 0 | 0 | |
Impairment loss | 0 | 0 | 0 | |
Credit loss | 0 | 0 | 0 | |
Share of associates' results | 0 | 0 | 0 | |
Share of joint ventures' results | 0 | 0 | 0 | |
Change in fair value of financial assets / liabilities | 0 | 0 | 0 | |
Remeasurement of the originally held equity interests in a joint venture | 0 | |||
Non-current assets additions during the year | [1] | (359) | (49) | 0 |
Total assets | (1,616) | (4,209) | ||
Total liabilities | (1,607) | (4,154) | ||
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Elimination [member] | Point in time [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | (1,171) | (1,483) | (2,401) | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Elimination [member] | Over time [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | (2,829) | (2,183) | (1,604) | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Unallocated [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | [2] | 0 | 0 | 0 |
(Loss)/profit before income tax | [2] | (25) | (348) | 490 |
(Loss)/Profit for the year | [2] | 52 | (372) | 423 |
Income tax | [2] | (77) | 24 | 67 |
Interest income | [2] | 0 | 0 | 0 |
Interest expense | [2] | 0 | 0 | 0 |
Depreciation and amortization | [2] | 0 | 0 | 0 |
Impairment loss | [2] | 0 | 0 | 0 |
Credit loss | [2] | 0 | 0 | 0 |
Share of associates' results | [2] | 9 | (776) | (178) |
Share of joint ventures' results | [2] | 271 | 309 | 365 |
Change in fair value of financial assets / liabilities | [2] | (309) | 53 | 265 |
Remeasurement of the originally held equity interests in a joint venture | [2] | 13 | ||
Non-current assets additions during the year | [1],[2] | 0 | 0 | 0 |
Total assets | [2] | 6,635 | 6,564 | |
Total liabilities | [2] | 1,242 | 3,201 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Unallocated [Member] | Point in time [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | [2] | 0 | 0 | 0 |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Unallocated [Member] | Over time [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | [2] | 0 | 0 | 0 |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | External customers [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 101,644 | 92,561 | 154,322 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | External customers [Member] | Airline transportation operations [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 100,419 | 91,722 | 152,591 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | External customers [Member] | Other segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 1,225 | 839 | 1,731 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | External customers [Member] | Elimination [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 0 | 0 | 0 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | External customers [Member] | Unallocated [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | [2] | 0 | 0 | 0 |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Intersegment [Member] | Reportable operating segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 0 | 0 | 0 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Intersegment [Member] | Reportable operating segments [member] | Airline transportation operations [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 550 | 330 | 204 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Intersegment [Member] | Reportable operating segments [member] | Other segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | 3,450 | 3,336 | 3,801 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Intersegment [Member] | Elimination [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | (4,000) | (3,666) | (4,005) | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Intersegment [Member] | Unallocated [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | [2] | ¥ 0 | ¥ 0 | ¥ 0 |
[1] | The additions of non-current assets do not include interests in associates and joint ventures, other equity instrument investments, other non-current financial assets, derivative financial assets and deferred tax assets. | |||
[2] | Unallocated assets primarily include interest in associates and joint ventures, derivative financial assets and equity securities. Unallocated liabilities primarily include derivative financial liabilities. Unallocated results primarily include the share of results of associates and joint ventures, dividend income from equity securities, and the fair value movement of financial instruments recognized through profit or loss. |
Segment Reporting - Revenues by
Segment Reporting - Revenues by Geographical Segment (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of geographical areas [line items] | |||
Total operating revenue | ¥ 101,644 | ¥ 92,561 | ¥ 154,322 |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | |||
Disclosure of geographical areas [line items] | |||
Total operating revenue | 101,644 | 92,561 | 154,322 |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Domestic [Member] | |||
Disclosure of geographical areas [line items] | |||
Total operating revenue | 76,517 | 65,137 | 110,112 |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | International [Member] | |||
Disclosure of geographical areas [line items] | |||
Total operating revenue | 24,739 | 27,090 | 41,651 |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Hong Kong, Macau and Taiwan [Member] | |||
Disclosure of geographical areas [line items] | |||
Total operating revenue | ¥ 388 | ¥ 334 | ¥ 2,559 |
Segment Reporting - Reconciliat
Segment Reporting - Reconciliation of Reportable Segment, (Loss)/Profit before Income Tax, Assets and Liabilities to Consolidated Figures (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of operating segments [line items] | ||||
Total operating revenue | ¥ 101,644 | ¥ 92,561 | ¥ 154,322 | |
(Loss)/profit before income tax | (13,910) | (15,195) | 4,055 | |
Total assets | 323,211 | 326,383 | ||
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | ||||
Disclosure of operating segments [line items] | ||||
Total operating revenue | (13,903) | (15,186) | 4,070 | |
(Loss)/profit before income tax | (13,903) | (15,186) | 4,070 | |
Total assets | 322,948 | 326,115 | ||
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Adjustments arising from business combinations under common control [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total assets | [1] | 237 | 237 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Capitalization of exchange difference of specific loans [Member] | ||||
Disclosure of operating segments [line items] | ||||
(Loss)/profit before income tax | [2] | (8) | (9) | (16) |
Total assets | [2] | 39 | 47 | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Government grants [Member] | ||||
Disclosure of operating segments [line items] | ||||
(Loss)/profit before income tax | [3] | 1 | 0 | ¥ 1 |
Total assets | [3] | (5) | (6) | |
Financial Results Prepared under the People's Republic of China Accounting Standards for Business Enterprises ("PRC GAAP") [member] | Others [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total assets | ¥ (8) | ¥ (10) | ||
[1] | In accordance with the PRC GAAP, the Company accounts for the business combination under common control by applying the pooling-of-interest method. Under the pooling-of-interest method, the difference between the historical carrying amount of the acquiree and the consideration paid is accounted for as an equity transaction. Business combinations under common control are accounted for as if the acquisition had occurred at the beginning of the earliest comparative year presented or, if later, at the date that common control was established; for this purpose, relevant comparative figures are restated under PRC GAAP. Under IFRSs, the Company adopts the purchase accounting method for acquisition of business under common control. | |||
[2] | In accordance with the PRC GAAP, exchange difference arising on translation of specific loans and related interest denominated in a foreign currency is capitalized as part of the cost of qualifying assets. Under IFRSs, such exchange difference is recognized in income statement unless the exchange difference represents an adjustment to interest. | |||
[3] | In accordance with the PRC GAAP, assets related government grants (other than special funds) are deducted from the cost of the related assets. Special funds granted by the government and clearly defined in the approval documents as part of “capital reserve” are accounted for as increase in capital reserve. Under IFRSs, assets related government grants are deducted to the cost of the related assets. The difference is resulted from government grants received in previous years and are recognized in capital reserve under PRC GAAP. |
Flight Operation Expenses - Sum
Flight Operation Expenses - Summary of Flight Operation Expenses (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |||
Jet fuel costs | ¥ 25,505 | ¥ 18,797 | ¥ 42,814 |
Flight personnel payroll and welfare | 10,763 | 10,232 | 12,709 |
Air catering expenses | 1,577 | 1,765 | 3,975 |
Civil Aviation Development Fund | 1,059 | 0 | 2,332 |
Aircraft operating lease charges | 920 | 977 | 1,412 |
Training expenses | 690 | 857 | 1,142 |
Aircraft Insurance | 184 | 191 | 192 |
Others | 4,871 | 4,726 | 5,990 |
Flight operation expenses | ¥ 45,569 | ¥ 37,545 | ¥ 70,566 |
Maintenance Expenses - Summary
Maintenance Expenses - Summary of Maintenance Expenses (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |||
Aviation repair and maintenance charges | ¥ 7,890 | ¥ 9,101 | ¥ 8,565 |
Staff payroll and welfare | 2,994 | 2,875 | 2,976 |
Maintenance materials | 1,278 | 1,399 | 1,516 |
Maintenance expenses | ¥ 12,162 | ¥ 13,375 | ¥ 13,057 |
Aircraft and Transportation S_3
Aircraft and Transportation Service Expenses - Summary of Aircraft and Transportation Service Expenses (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |||
Landing and navigation fees | ¥ 11,705 | ¥ 10,857 | ¥ 17,658 |
Ground service and other charges | 9,442 | 7,886 | 8,933 |
Airport and transportation service expenses | ¥ 21,147 | ¥ 18,743 | ¥ 26,591 |
Promotion and Selling Expense_2
Promotion and Selling Expenses - Summary of Promotion and Selling Expenses (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |||
Ticket office expenses | ¥ 2,809 | ¥ 2,935 | ¥ 3,299 |
Sales commissions | 773 | 842 | 2,214 |
Computer reservation services | 413 | 352 | 959 |
Advertising and promotion | 140 | 121 | 314 |
Others | 570 | 757 | 969 |
Promotion and selling expenses | ¥ 4,705 | ¥ 5,007 | ¥ 7,755 |
General and Administrative Ex_3
General and Administrative Expenses - Summary of General and Administrative Expenses (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |||
General corporate expenses | ¥ 3,282 | ¥ 3,572 | ¥ 3,692 |
Auditors' remuneration | 15 | 20 | 20 |
- Audit services | 14 | 17 | 18 |
- Non-audit services | 1 | 3 | 2 |
Credit losses | (1) | 164 | 13 |
Other taxes and levies | 367 | 332 | 348 |
General and administrative expenses | ¥ 3,663 | ¥ 4,088 | ¥ 4,073 |
Depreciation and amortization -
Depreciation and amortization - Summary of Depreciation and Amortisation (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation and amortization expense [Line Items] | |||
Depreciation, right-of-use assets | ¥ 14,888 | ¥ 15,388 | ¥ 15,263 |
Other amortization | 518 | 378 | 328 |
Depreciation and amortization | 24,241 | 24,590 | 24,620 |
Owned assets [member] | |||
Depreciation and amortization expense [Line Items] | |||
Depreciation of property, plant and equipment | ¥ 8,835 | ¥ 8,824 | ¥ 9,029 |
Staff Costs - Summary of Staff
Staff Costs - Summary of Staff Costs (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |||
Salaries, wages and welfare | ¥ 23,441 | ¥ 22,592 | ¥ 24,647 |
Defined contribution retirement scheme | 2,802 | 2,183 | 2,794 |
Other retirement welfare subsidy | 50 | 72 | 206 |
Staff costs | ¥ 26,293 | ¥ 24,847 | ¥ 27,647 |
Other Net Income - Summary of O
Other Net Income - Summary of Other Net Income (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of other operating income [Line Items] | |||
Government grants | ¥ 4,040 | ¥ 4,209 | ¥ 4,129 |
Gains/(losses) on disposal of property, plant and equipment, net | 363 | 57 | 140 |
Others | 364 | 420 | 855 |
Other net income | 4,767 | 4,686 | 5,124 |
Aircraft and spare engines and construction in progress [member] | |||
Disclosure of other operating income [Line Items] | |||
Gains/(losses) on disposal of property, plant and equipment, net | 149 | (18) | 34 |
Other Property Plant And Equipment And Right Of Use Assets [Member] | |||
Disclosure of other operating income [Line Items] | |||
Gains/(losses) on disposal of property, plant and equipment, net | ¥ 214 | ¥ 75 | ¥ 106 |
Interest Expense - Summary of I
Interest Expense - Summary of Interest Expense (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Interest costs [abstract] | ||||
Interest on borrowings | ¥ 2,448 | ¥ 1,914 | ¥ 1,840 | |
Interest relating to lease liabilities | 4,434 | 5,180 | 5,302 | |
Total interest expense on financial liabilities not at fair value through profit or loss | 6,882 | 7,094 | 7,142 | |
Less: interest expense capitalized | [1] | (701) | (363) | (1,279) |
Interest expense net of capitalized | 6,181 | 6,731 | 5,863 | |
Interest rate swaps: cash flow hedge, reclassified from equity | 21 | (15) | (18) | |
Interest expense | ¥ 6,202 | ¥ 6,716 | ¥ 5,845 | |
[1] | The weighted average interest rate used for interest capitalization was 2.61% per annum in 2021 (2020: 2.51%; 2019: 3.51%). |
Interest Expense - Summary of_2
Interest Expense - Summary of Interest Expense (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Interest costs [abstract] | |||
Weighted average interest rate per annum used for interest capitalisation | 2.61% | 2.51% | 3.51% |
Income Tax - Income Tax (credit
Income Tax - Income Tax (credit)/Expense in Consolidated Income Statement (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
PRC income tax | |||
Provision for the year | ¥ 2,159 | ¥ 1,716 | ¥ 1,611 |
Under provision in prior year | 35 | 48 | 10 |
Current tax expense | 2,194 | 1,764 | 1,621 |
Deferred tax (Note 29) | |||
Origination and reversal of temporary differences | (5,088) | (5,132) | (650) |
Income tax (credit)/expense | ¥ (2,894) | ¥ (3,368) | ¥ 971 |
Income Tax - Additional Informa
Income Tax - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
HONG KONG | |||
Statement [LineItems] | |||
Corporate income tax rate | 16.50% | 16.50% | 16.50% |
Bottom of range [member] | |||
Statement [LineItems] | |||
Corporate income tax rate | 15.00% | 15.00% | 15.00% |
Bottom of range [member] | Subsidiaries [member] | |||
Statement [LineItems] | |||
Corporate income tax rate | 15.00% | 15.00% | 15.00% |
Top of range [member] | |||
Statement [LineItems] | |||
Corporate income tax rate | 25.00% | 25.00% | 25.00% |
Top of range [member] | Subsidiaries [member] | |||
Statement [LineItems] | |||
Corporate income tax rate | 25.00% | 25.00% | 30.00% |
Income Tax - Reconciliation bet
Income Tax - Reconciliation between Actual Income Tax (Credit)/Expense and Calculated Tax Based On Accounting (Loss)/Profit at Applicable Income Tax Rates (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation between actual tax expense and calculated tax based on accounting profit at applicable tax rates [abstract] | |||
(Loss)/profit before income tax | ¥ (13,910) | ¥ (15,195) | ¥ 4,055 |
Notional tax on (loss)/profit before taxation, calculated at the rates applicable to (loss)/profits in the tax jurisdictions concerned (Note 16(a)) | (3,380) | (3,667) | 964 |
Non-deductible expenses | 96 | 102 | 18 |
Share of results of associates and joint ventures and other non-taxable income | (70) | 111 | (50) |
Unused tax losses and deductible temporary differences for which no deferred tax assets were recognized | 489 | 80 | 62 |
Utilization of unused tax losses and deductible temporary differences for which no deferred tax assets were recognized in prior years | (32) | (8) | (3) |
Under provision in prior year | 35 | 48 | 10 |
Super deduction of research and development expenses | (32) | (34) | (30) |
Income tax (credit)/expense | ¥ (2,894) | ¥ (3,368) | ¥ 971 |
Other Comprehensive Income - Su
Other Comprehensive Income - Summary of Other Comprehensive Income (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flow hedges: | |||
Effective portion of changes in fair value of hedging instruments recognized during the year | ¥ 21 | ¥ (30) | ¥ (54) |
Reclassification adjustments for amounts transferred to profit or loss: - interest expense (Note 15) | 21 | (15) | (18) |
Net deferred tax (debited)/credited to other comprehensive income | (10) | 11 | 17 |
Net movement in the fair value reserve during the year recognized in other comprehensive income | 32 | (34) | (55) |
Equity investments measured at FVOCI: | |||
Changes in fair value recognized during the year | (236) | (250) | (31) |
Net deferred tax credited to other comprehensive income | 60 | 63 | 7 |
Net movement in the fair value reserve (non-recycling) during the year recognised in other comprehensive income | (176) | (187) | (24) |
Share of other comprehensive income of associate | |||
Will not be reclassified to profit or loss | (2) | (2) | 3 |
May be reclassified subsequently to profit or loss | 3 | (3) | 0 |
Net movement during the year recognised in other comprehensive income | 1 | (5) | 3 |
Differences resulting from the translation of foreign currency financial statements | 0 | 8 | (7) |
Other comprehensive income for the year | ¥ (143) | ¥ (218) | ¥ (83) |
(Loss)_Earnings Per Share - Add
(Loss)/Earnings Per Share - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Earnings per share [abstract] | |||
Profit/(Loss) attributable to equity shareholders of the Company | ¥ (12,106) | ¥ (10,847) | ¥ 2,640 |
Weighted average number of shares in issue | 16,201,129,384 | 14,056,887,174 | 12,267,172,286 |
(Loss)_Earnings Per Share - Sum
(Loss)/Earnings Per Share - Summary of Earnings per Share (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Earnings per share [line items] | |||
Issued ordinary shares at January 1 | 15,329,000,000 | 12,267,000,000 | 12,267,000,000 |
Effect of issuance of shares | 872,000,000 | 1,790,000,000 | 0 |
Weighted average number of ordinary shares outstanding | 16,201,129,384 | 14,056,887,174 | 12,267,172,286 |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net - Summary of Property, Plant and Equipment, Net (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | ¥ 86,146 | ||
Reclassification on change of holding intention: | |||
Provision for impairment losses | 994 | ¥ 3,279 | ¥ 18 |
Ending balance | 91,186 | 86,146 | |
Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 171,338 | 162,430 | |
Additions | 4,076 | 2,924 | |
Transferred from construction in progress (Note 20) | 11,813 | 11,276 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | 0 | 0 | |
-transferred to other property, plant and equipment, net | 0 | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 2,761 | 2,780 | |
Disposals | (7,513) | (7,939) | |
Disposal of a subsidiary | (133) | ||
Transfer to assets held for sale | (6,461) | ||
Others | 9 | ||
Ending balance | 176,023 | 171,338 | 162,430 |
Accumulated depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 85,192 | 77,642 | |
Depreciation charge for the year | 8,835 | 8,824 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | 0 | 0 | |
-transferred to other property, plant and equipment, net | 0 | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 1,202 | 982 | |
Disposals | (5,124) | (5,502) | |
Disposal of a subsidiary | (26) | ||
Provision for impairment losses | 994 | 3,279 | |
Impairment losses written off on disposals | (809) | (7) | |
Transfer to assets held for sale | (2,812) | ||
Impairment losses transfer to assets held for sale (Note 35) | (2,641) | ||
Ending balance | 84,837 | 85,192 | 77,642 |
Investment properties [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 312 | ||
Reclassification on change of holding intention: | |||
Ending balance | 305 | 312 | |
Investment properties [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 522 | 470 | |
Additions | 0 | 0 | |
Transferred from construction in progress (Note 20) | 0 | 0 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | 50 | 52 | |
-transferred to other property, plant and equipment, net | (32) | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 0 | 0 | |
Disposals | (8) | 0 | |
Disposal of a subsidiary | 0 | ||
Transfer to assets held for sale | 0 | ||
Others | 9 | ||
Ending balance | 541 | 522 | 470 |
Investment properties [member] | Accumulated depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 210 | 166 | |
Depreciation charge for the year | 16 | 23 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | 35 | 21 | |
-transferred to other property, plant and equipment, net | (19) | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 0 | 0 | |
Disposals | (6) | 0 | |
Disposal of a subsidiary | 0 | ||
Provision for impairment losses | 0 | 0 | |
Impairment losses written off on disposals | 0 | 0 | |
Transfer to assets held for sale | 0 | ||
Impairment losses transfer to assets held for sale (Note 35) | 0 | ||
Ending balance | 236 | 210 | 166 |
Buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 16,035 | ||
Reclassification on change of holding intention: | |||
Ending balance | 17,397 | 16,035 | |
Buildings [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 21,475 | 16,046 | |
Additions | 66 | 12 | |
Transferred from construction in progress (Note 20) | 2,097 | 5,720 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | (50) | (52) | |
-transferred to other property, plant and equipment, net | 32 | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 0 | 0 | |
Disposals | (115) | (152) | |
Disposal of a subsidiary | (99) | ||
Transfer to assets held for sale | 0 | ||
Others | 0 | ||
Ending balance | 23,505 | 21,475 | 16,046 |
Buildings [member] | Accumulated depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 5,440 | 4,917 | |
Depreciation charge for the year | 712 | 618 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | (35) | (21) | |
-transferred to other property, plant and equipment, net | 19 | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 0 | 0 | |
Disposals | (28) | (59) | |
Disposal of a subsidiary | (15) | ||
Provision for impairment losses | 0 | 0 | |
Impairment losses written off on disposals | 0 | 0 | |
Transfer to assets held for sale | 0 | ||
Impairment losses transfer to assets held for sale (Note 35) | 0 | ||
Ending balance | 6,108 | 5,440 | 4,917 |
Aircraft [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 54,863 | ||
Reclassification on change of holding intention: | |||
Ending balance | 59,190 | 54,863 | |
Aircraft [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 114,380 | 113,276 | |
Additions | 2,855 | 1,435 | |
Transferred from construction in progress (Note 20) | 8,796 | 3,719 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | 0 | 0 | |
-transferred to other property, plant and equipment, net | 0 | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 2,761 | 2,780 | |
Disposals | (6,393) | (6,830) | |
Disposal of a subsidiary | 0 | ||
Transfer to assets held for sale | (6,309) | ||
Others | 0 | ||
Ending balance | 116,090 | 114,380 | 113,276 |
Aircraft [member] | Accumulated depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 59,517 | 54,177 | |
Depreciation charge for the year | 5,673 | 5,744 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | 0 | 0 | |
-transferred to other property, plant and equipment, net | 0 | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 1,202 | 982 | |
Disposals | (4,270) | (4,588) | |
Disposal of a subsidiary | 0 | ||
Provision for impairment losses | 914 | 3,202 | |
Impairment losses written off on disposals | (809) | 0 | |
Transfer to assets held for sale | (2,746) | ||
Impairment losses transfer to assets held for sale (Note 35) | (2,581) | ||
Ending balance | 56,900 | 59,517 | 54,177 |
Other flight equipment including rotables [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 10,717 | ||
Reclassification on change of holding intention: | |||
Ending balance | 10,103 | 10,717 | |
Other flight equipment including rotables [Member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 25,025 | 24,385 | |
Additions | 487 | 542 | |
Transferred from construction in progress (Note 20) | 434 | 497 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | 0 | 0 | |
-transferred to other property, plant and equipment, net | 0 | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 0 | 0 | |
Disposals | (441) | (399) | |
Disposal of a subsidiary | 0 | ||
Transfer to assets held for sale | (152) | ||
Others | 0 | ||
Ending balance | 25,353 | 25,025 | 24,385 |
Other flight equipment including rotables [Member] | Accumulated depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 14,308 | 13,119 | |
Depreciation charge for the year | 1,394 | 1,493 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | 0 | 0 | |
-transferred to other property, plant and equipment, net | 0 | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 0 | 0 | |
Disposals | (406) | (372) | |
Disposal of a subsidiary | 0 | ||
Provision for impairment losses | 80 | 75 | |
Impairment losses written off on disposals | 0 | (7) | |
Transfer to assets held for sale | (66) | ||
Impairment losses transfer to assets held for sale (Note 35) | (60) | ||
Ending balance | 15,250 | 14,308 | 13,119 |
Machinery, equipment and vehicles [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 4,219 | ||
Reclassification on change of holding intention: | |||
Ending balance | 4,191 | 4,219 | |
Machinery, equipment and vehicles [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 9,936 | 8,253 | |
Additions | 668 | 935 | |
Transferred from construction in progress (Note 20) | 486 | 1,340 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | 0 | 0 | |
-transferred to other property, plant and equipment, net | 0 | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 0 | 0 | |
Disposals | (556) | (558) | |
Disposal of a subsidiary | (34) | ||
Transfer to assets held for sale | 0 | ||
Others | 0 | ||
Ending balance | 10,534 | 9,936 | 8,253 |
Machinery, equipment and vehicles [member] | Accumulated depreciation and impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 5,717 | 5,263 | |
Depreciation charge for the year | 1,040 | 946 | |
Reclassification on change of holding intention: | |||
-transferred from other property, plant and equipment, net | 0 | 0 | |
-transferred to other property, plant and equipment, net | 0 | ||
Transferred from right-of-use assets on exercise of purchase option (Note 21) | 0 | 0 | |
Disposals | (414) | (483) | |
Disposal of a subsidiary | (11) | ||
Provision for impairment losses | 0 | 2 | |
Impairment losses written off on disposals | 0 | 0 | |
Transfer to assets held for sale | 0 | ||
Impairment losses transfer to assets held for sale (Note 35) | 0 | ||
Ending balance | ¥ 6,343 | ¥ 5,717 | ¥ 5,263 |
Property, Plant and Equipment_4
Property, Plant and Equipment, Net - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 91,186 | ¥ 86,146 | |
Approximate aggregate carrying value of certain aircraft mortgaged under certain obligations | 0 | 0 | |
Rental income for investment properties and certain flight training facilities under operating leases | 232 | 186 | ¥ 202 |
Profit (loss) before tax | (13,910) | (15,195) | 4,055 |
Impairment provision | 994 | 3,279 | 18 |
(Increase) Decrease In Impairment Losses | 809 | ||
Increase (decrease) due to changes in accounting policy [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Profit (loss) before tax | 1,618 | ||
Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 176,023 | 171,338 | ¥ 162,430 |
In the process of applying for certain title/right certificates [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 10,554 | ¥ 10,226 | |
Certain aircraft [member] | Financial Lease Agreement [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Noncurrent Receivables | 783 | ||
Certain aircraft [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Increase (decrease) in property, plant and equipment | 4,042 | ||
Certain aircraft [member] | Gross carrying amount [member] | Financial Lease Agreement [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Increase (decrease) in property, plant and equipment | 792 | ||
Certain aircraft [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Increase (decrease) in property, plant and equipment | 2,728 | ||
Certain aircraft [member] | Accumulated depreciation and amortisation [member] | Financial Lease Agreement [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Increase (decrease) in property, plant and equipment | 0 | ||
Aged or market value declined fleet [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment provision | 2,579 | ||
Owned aircraft fleet, spare engines and rotables [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment provision | 994 | ||
Leased aircraft [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Impairment provision | 1,585 | ||
Aircraft and Related Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 199,407 |
Property, Plant and Equipment_5
Property, Plant and Equipment, Net - Future Minimum Lease Income under Non-cancellable Operating Leases (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Future minimum lease income under non-cancellable operating leases | ¥ 249 | ¥ 283 |
Within 1 year [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Future minimum lease income under non-cancellable operating leases | 47 | 66 |
After 1 year but within 5 years [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Future minimum lease income under non-cancellable operating leases | 130 | 120 |
After 5 years [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Future minimum lease income under non-cancellable operating leases | ¥ 72 | ¥ 97 |
Property, Plant and Equipment_6
Property, Plant and Equipment, Net - Summary of Comparison of Depreciation Method of Components (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Before the change [member] | Maximum [member] | |
Disclosure of Comparison of Depreciation Method of Components Related to Engine Overhaul Costs Before and After the Change [line item] | |
Expected useful lives/Expected flying hours | 5 years 6 months |
Annual depreciation rate / Depreciation rate per thousand flying hours | 33.30% |
Before the change [member] | Minimum [member] | |
Disclosure of Comparison of Depreciation Method of Components Related to Engine Overhaul Costs Before and After the Change [line item] | |
Expected useful lives/Expected flying hours | 3 years |
Annual depreciation rate / Depreciation rate per thousand flying hours | 18.20% |
After the change [member] | Maximum [member] | |
Disclosure of Comparison of Depreciation Method of Components Related to Engine Overhaul Costs Before and After the Change [line item] | |
Annual depreciation rate / Depreciation rate per thousand flying hours | 11.10% |
Expected useful hours | 42 hours |
After the change [member] | Minimum [member] | |
Disclosure of Comparison of Depreciation Method of Components Related to Engine Overhaul Costs Before and After the Change [line item] | |
Annual depreciation rate / Depreciation rate per thousand flying hours | 2.40% |
Expected useful hours | 9 hours |
Construction in Progress - Summ
Construction in Progress - Summary of Construction in Progress (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | ¥ 32,407 | ¥ 39,222 |
Additions | 12,285 | 13,495 |
Transferred to property, plant and equipment | (11,813) | (11,276) |
Transferred to right-of-use assets | (515) | (8,659) |
Transferred to others | (517) | (375) |
Ending balance | 31,847 | 32,407 |
Advance payment for aircraft and flight equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 29,342 | 30,919 |
Additions | 10,464 | 8,858 |
Transferred to property, plant and equipment | (9,230) | (4,216) |
Transferred to right-of-use assets | (454) | (6,219) |
Transferred to others | 0 | 0 |
Ending balance | 30,122 | 29,342 |
Others [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 3,065 | 8,303 |
Additions | 1,821 | 4,637 |
Transferred to property, plant and equipment | (2,583) | (7,060) |
Transferred to right-of-use assets | (61) | (2,440) |
Transferred to others | (517) | (375) |
Ending balance | ¥ 1,725 | ¥ 3,065 |
Right-of use assets - Summary o
Right-of use assets - Summary of Right To Use Of Assets (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | ¥ 151,065 | |
Transfer from construction in progress (Note 20) | 515 | ¥ 8,659 |
Ending balance | 138,439 | 151,065 |
Ending balance, Adjusted | 151,065 | |
Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 230,969 | 222,585 |
Additions | 5,273 | 7,173 |
Transfer from construction in progress (Note 20) | 515 | 8,659 |
Transfers to property, plant and equipment on exercise of purchase option | (2,761) | (2,780) |
- disposals | (6,991) | (4,599) |
- disposal of a subsidiary | (69) | |
Transfer to assets held for sale | (1,582) | |
Ending balance | 225,423 | 230,969 |
Accumulated amortization and impairment losses [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 79,904 | 69,374 |
Amortization charge for the year | 14,888 | 15,388 |
Transfers to property, plant and equipment on exercise of purchase option | (1,202) | (982) |
- disposals | (6,893) | (4,551) |
- disposal of a subsidiary | (7) | |
Provision for impairment losses | 1,585 | 682 |
Transfer to assets held for sale | (616) | |
Impairment losses transfer to assets held for sale (Note 35) | (682) | |
Ending balance | 86,984 | 79,904 |
Others [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 648 | |
Ending balance | 860 | 648 |
Others [member] | Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 765 | 392 |
Additions | 243 | 190 |
Transfer from construction in progress (Note 20) | 152 | 226 |
Transfers to property, plant and equipment on exercise of purchase option | 0 | 0 |
- disposals | (26) | 0 |
- disposal of a subsidiary | (43) | |
Transfer to assets held for sale | 0 | |
Ending balance | 1,134 | 765 |
Others [member] | Accumulated amortization and impairment losses [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 117 | 34 |
Amortization charge for the year | 178 | 90 |
Transfers to property, plant and equipment on exercise of purchase option | 0 | 0 |
- disposals | (21) | 0 |
- disposal of a subsidiary | (7) | |
Provision for impairment losses | 0 | 0 |
Transfer to assets held for sale | 0 | |
Impairment losses transfer to assets held for sale (Note 35) | 0 | |
Ending balance | 274 | 117 |
Land use rights [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 5,534 | |
Ending balance | 5,723 | 5,534 |
Land use rights [member] | Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 6,481 | 4,022 |
Additions | 343 | 45 |
Transfer from construction in progress (Note 20) | 61 | 2,440 |
Transfers to property, plant and equipment on exercise of purchase option | 0 | 0 |
- disposals | (75) | 0 |
- disposal of a subsidiary | (26) | |
Transfer to assets held for sale | 0 | |
Ending balance | 6,810 | 6,481 |
Land use rights [member] | Accumulated amortization and impairment losses [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 947 | 813 |
Amortization charge for the year | 140 | 134 |
Transfers to property, plant and equipment on exercise of purchase option | 0 | 0 |
- disposals | 0 | 0 |
- disposal of a subsidiary | 0 | |
Provision for impairment losses | 0 | 0 |
Transfer to assets held for sale | 0 | |
Impairment losses transfer to assets held for sale (Note 35) | 0 | |
Ending balance | 1,087 | 947 |
Aircraft and engines [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 143,363 | |
Ending balance | 130,114 | 143,363 |
Aircraft and engines [member] | Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 220,701 | 215,381 |
Additions | 3,493 | 6,526 |
Transfer from construction in progress (Note 20) | 302 | 5,993 |
Transfers to property, plant and equipment on exercise of purchase option | (2,761) | (2,780) |
- disposals | (5,959) | (4,419) |
- disposal of a subsidiary | 0 | |
Transfer to assets held for sale | (1,582) | |
Ending balance | 214,194 | 220,701 |
Aircraft and engines [member] | Accumulated amortization and impairment losses [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 77,338 | 67,890 |
Amortization charge for the year | 13,616 | 14,167 |
Transfers to property, plant and equipment on exercise of purchase option | (1,202) | (982) |
- disposals | (5,959) | (4,419) |
- disposal of a subsidiary | 0 | |
Provision for impairment losses | 1,585 | 682 |
Transfer to assets held for sale | (616) | |
Impairment losses transfer to assets held for sale (Note 35) | (682) | |
Ending balance | 84,080 | 77,338 |
Buildings [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 1,520 | |
Ending balance | 1,742 | 1,520 |
Buildings [member] | Gross carrying amount [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 3,022 | 2,790 |
Additions | 1,194 | 412 |
Transfer from construction in progress (Note 20) | 0 | 0 |
Transfers to property, plant and equipment on exercise of purchase option | 0 | 0 |
- disposals | (931) | (180) |
- disposal of a subsidiary | 0 | |
Transfer to assets held for sale | 0 | |
Ending balance | 3,285 | 3,022 |
Buildings [member] | Accumulated amortization and impairment losses [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 1,502 | 637 |
Amortization charge for the year | 954 | 997 |
Transfers to property, plant and equipment on exercise of purchase option | 0 | 0 |
- disposals | (913) | (132) |
- disposal of a subsidiary | 0 | |
Provision for impairment losses | 0 | 0 |
Transfer to assets held for sale | 0 | |
Impairment losses transfer to assets held for sale (Note 35) | 0 | |
Ending balance | ¥ 1,543 | ¥ 1,502 |
Right-of use assets -Summary Of
Right-of use assets -Summary Of Analysis Of Expense Items In Relation To Leases Recognised In Profit Or Loss (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [abstract] | |||
Interest on lease liabilities (Note 15) | ¥ 4,434 | ¥ 5,180 | ¥ 5,302 |
Interest rate swaps: cash flow hedge, reclassified from equity (Note 15) | 21 | (15) | (18) |
Expense relating to short-term leases | 1,241 | 1,257 | 2,092 |
Expense relating to leases of variable lease payments not included in the measurement of lease liabilities | ¥ 124 | ¥ 106 | ¥ 81 |
Right-of use assets - Additiona
Right-of use assets - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Lease Prepayments [Line Items] | ||
Land use rights | ¥ 138,439 | ¥ 151,065 |
Approximate aggregate carrying value of certain land use rights mortgaged for certain bank borrowings | 0 | 0 |
Rent concessions | 0 | 7 |
In the process of applying for certain title/right certificates [member] | ||
Disclosure of Lease Prepayments [Line Items] | ||
Land use rights | ¥ 2,987 | ¥ 3,019 |
Bottom of range [member] | ||
Disclosure of Lease Prepayments [Line Items] | ||
Term for amortization using straight line method of acquiring cost of land held under operating lease | 30 years | |
Top of range [member] | ||
Disclosure of Lease Prepayments [Line Items] | ||
Term for amortization using straight line method of acquiring cost of land held under operating lease | 70 years |
Goodwill - Summary of Goodwill
Goodwill - Summary of Goodwill (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of reconciliation of changes in goodwill [abstract] | ||
Cost and carrying amount | ¥ 237 | ¥ 237 |
Goodwill Allocation to Cash Gen
Goodwill Allocation to Cash Generating Units CGU Identified According to Type of Operation (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | ¥ 237 | ¥ 237 | ¥ 237 |
Southern Airlines Group Import and Export Trading Company [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 182 | 182 | |
Xiamen Airlines Culture and Media Co., Ltd [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | ¥ 55 | ¥ 55 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) | Dec. 31, 2021 | Dec. 31, 2020 |
Bottom of range [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Discount rate used in determining recoverable amount of the CGU based on value-in-use calculation | 10.50% | 10.50% |
Top of range [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Discount rate used in determining recoverable amount of the CGU based on value-in-use calculation | 13.50% | 13.50% |
Subsidiaries - List of Particul
Subsidiaries - List of Particular Subsidiaries Principally Affect Results Assets or Liabilities (Detail) - CNY (¥) | Dec. 24, 2020 | Dec. 23, 2020 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of subsidiaries [line items] | ||||
Registered capital | ¥ 16,948,000,000 | ¥ 15,329,000,000 | ||
China Southern Airlines Henan Airlines Company Limited [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 6,000,000,000 | |||
Proportion of ownership interest held by the Company | 60.00% | |||
Principal activity | Airline transportation | |||
Xiamen Airlines Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 14,000,000,000 | |||
Proportion of ownership interest held by the Company | 55.00% | |||
Principal activity | Airline transportation | |||
Chongqing Airlines Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 1,200,000,000 | |||
Proportion of ownership interest held by the Company | 60.00% | |||
Principal activity | Airline transportation | |||
Shantou Airlines Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 280,000,000 | |||
Proportion of ownership interest held by the Company | 60.00% | |||
Principal activity | Airline transportation | |||
Zhuhai Airlines Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 250,000,000 | |||
Proportion of ownership interest held by the Company | 60.00% | |||
Principal activity | Airline transportation | |||
Guizhou Airlines Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 1,281,000,000 | |||
Proportion of ownership interest held by the Company | 60.00% | |||
Principal activity | Airline transportation | |||
Guangzhou Nanland Air Catering Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 240,000,000 | |||
Proportion of ownership interest held by the Company | 70.50% | |||
Principal activity | Air catering | |||
Beijing Southern Airlines Ground Services Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 100,000,000 | |||
Proportion of ownership interest held by the Company | 100.00% | |||
Principal activity | Airport ground services | |||
Nan Lung International Freight Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | Hong Kong | |||
Registered capital | ¥ 3,270,000 | |||
Proportion of ownership interest held by the Company | 51.00% | |||
Principal activity | Freight services | |||
China Southern Airlines General Aviation Company Limited ("CSAGA') [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 1,342,280,000 | |||
Proportion of ownership interest held by the Company | 57.88% | |||
Principal activity | General aviation | |||
Southern Airlines Group Import and Export Trading Company [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 30,000,000 | |||
Proportion of ownership interest held by the Company | 100.00% | |||
Principal activity | Import and export agent services | |||
Zhuhai Xiang Yi Aviation Technology Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 469,848,400 | |||
Proportion of ownership interest held by the Company | 100.00% | |||
Principal activity | Flight simulation services | |||
China Southern Airlines Xiongan Airlines Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 10,000,000,000 | |||
Proportion of ownership interest held by the Company | 100.00% | |||
Principal activity | Airline transportation | |||
China Southern Air Logistics Co Ltd [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 1,818,181,820 | |||
Proportion of ownership interest held by the Company | 55.00% | 100.00% | 55.00% | |
Principal activity | Logistics operations | |||
Shenyang Northern Aircraft Maintenance Co Ltd [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 31,520,545 | |||
Proportion of ownership interest held by the Company | 100.00% | |||
Principal activity | Aircraft repair and maintenance services | |||
Guangdong Southern Airline Pearl Aviation Services Company Limited [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 5,000,000 | |||
Proportion of ownership interest held by the Company | 100.00% | |||
Principal activity | Hotel management services | |||
Southern Airlines Nansha Finance Leasing (Guangzhou) Co.,Ltd. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Place of establishment/operation | PRC | |||
Registered capital | ¥ 2,000,000,000 | |||
Proportion of ownership interest held by the Company | 100.00% | |||
Principal activity | Leasing services |
Subsidiaries - List of Partic_2
Subsidiaries - List of Particular Subsidiaries Principally Affect Results Assets or Liabilities (Parenthetical) (Detail) - CNY (¥) ¥ in Millions | Dec. 17, 2019 | Apr. 23, 2019 |
Shenyang Northern Aircraft Maintenance Co Ltd [member] | ||
Disclosure of subsidiaries [line items] | ||
Percentage of voting equity interests acquired | 21.00% | |
Cash consideration paid | ¥ 14 | |
Guangdong Southern Airline Pearl Aviation Services Company Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Percentage of voting equity interests acquired | 100.00% | |
Cash consideration paid | ¥ 9 |
Subsidiaries - Additional Infor
Subsidiaries - Additional Information (Detail) - CNY (¥) ¥ in Millions | Dec. 24, 2020 | Dec. 23, 2020 | Dec. 18, 2020 | Dec. 17, 2020 | May 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of subsidiaries [line items] | ||||||||||
Non-controlling interests | ¥ 16,657 | ¥ 15,547 | ||||||||
Xiamen Airlines Company Limited [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Proportion of ownership interest held by the Company | 55.00% | |||||||||
Non-controlling interests | ¥ 9,103 | 8,809 | ||||||||
Shenyang Northern Aircraft Maintenance Co Ltd [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Proportion of ownership interest held by the Company | 100.00% | |||||||||
Profit (loss) from the acquisition date to year end | ¥ 1 | |||||||||
Revenue from the acquisition date to year end | 39 | |||||||||
Consolidated profit increase if acquisition had occurred at beginning of year | ¥ 21 | |||||||||
Guangdong Southern Airline Pearl Aviation Services Company Limited [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Proportion of ownership interest held by the Company | 100.00% | |||||||||
Consolidated revenue increase if acquisition had occurred at beginning of year | 499 | |||||||||
Consolidated profit increase if acquisition had occurred at beginning of year | 17 | |||||||||
China Southern Air Logistics Co Ltd [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Proportion of ownership interest held by the Company | 55.00% | 100.00% | 55.00% | |||||||
Non-controlling interests | ¥ 4,814 | ¥ 2,892 | ||||||||
Guangzhou Baiyun International Logistic Company Limited [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Proportion of ownership interest held by the Company | 90.00% | 29.00% | 61.00% | |||||||
CSAGA [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Proportion of ownership interest held by the Company | 57.88% | 100.00% |
Subsidiaries - Summarized Finan
Subsidiaries - Summarized Financial Information of Subsidiary with Material Non-controlling Interests (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Consolidated Financial of the Group [Line Items] | |||
Current assets | ¥ 37,866 | ¥ 38,985 | |
Non-current assets | 285,345 | 287,398 | |
Current liabilities | (110,990) | (95,681) | |
Non-current liabilities | (127,713) | (145,571) | |
Net assets | 84,508 | 85,131 | |
Carrying amount of non-controlling interests | 16,657 | 15,547 | |
Revenue | 101,644 | 92,561 | ¥ 154,322 |
(Loss)/Profit for the year | (11,016) | (11,827) | 3,084 |
Total comprehensive income | (11,159) | (12,045) | 3,001 |
(Loss)/profit allocated to non-controlling interests | 1,090 | (980) | 444 |
Net cash generated from operating activities | 7,688 | 2,698 | 31,175 |
Net cash used in investing activities | (15,820) | (8,049) | (14,427) |
Net cash (used)/generated from financing activities | ¥ 4,186 | ¥ 28,945 | ¥ (21,833) |
Xiamen Airlines Company Limited [member] | |||
Consolidated Financial of the Group [Line Items] | |||
Non-controlling interests percentage | 45.00% | 45.00% | |
Current assets | ¥ 3,137 | ¥ 2,292 | |
Non-current assets | 48,775 | 50,975 | |
Current liabilities | (18,601) | (16,033) | |
Non-current liabilities | (13,781) | (18,431) | |
Net assets | 19,530 | 18,803 | |
Carrying amount of non-controlling interests | 9,103 | 8,809 | |
Revenue | 21,037 | 20,675 | |
(Loss)/Profit for the year | (938) | (181) | |
Total comprehensive income | (1,071) | (304) | |
(Loss)/profit allocated to non-controlling interests | (455) | (109) | |
Dividend paid to non-controlling interests | 31 | ||
Net cash generated from operating activities | 4,291 | 4,268 | |
Net cash used in investing activities | (1,099) | (1,430) | |
Net cash (used)/generated from financing activities | ¥ (2,529) | ¥ (3,201) | |
China Southern Air Logistics Co Ltd [member] | |||
Consolidated Financial of the Group [Line Items] | |||
Non-controlling interests percentage | 45.00% | 45.00% | |
Current assets | ¥ 12,124 | ¥ 8,479 | |
Non-current assets | 2,046 | 732 | |
Current liabilities | (3,505) | (2,708) | |
Non-current liabilities | (91) | (112) | |
Net assets | 10,574 | 6,391 | |
Carrying amount of non-controlling interests | 4,814 | 2,892 | |
Revenue | 19,659 | 15,397 | |
(Loss)/Profit for the year | 5,693 | 4,013 | |
Total comprehensive income | 5,693 | 4,013 | |
(Loss)/profit allocated to non-controlling interests | 2,572 | 16 | |
Dividend paid to non-controlling interests | 650 | 2 | |
Net cash generated from operating activities | 6,872 | 5,241 | |
Net cash used in investing activities | (3,390) | (1,468) | |
Net cash (used)/generated from financing activities | ¥ (2,486) | ¥ 1,122 |
Subsidiaries - Summarized Fin_2
Subsidiaries - Summarized Financial Information of Subsidiary with Material Non-controlling Interests (Parenthetical) (Detail) - China Southern Air Logistics Co., Ltd. [member] | Dec. 24, 2020 |
Bottom of range [member] | |
Disclosure of Operating Profit [line items] | |
Percentage of voting equity interests acquired | 55.00% |
Top of range [member] | |
Disclosure of Operating Profit [line items] | |
Percentage of voting equity interests acquired | 100.00% |
Subsidiaries - Summary of Group
Subsidiaries - Summary of Group's Non-controlling Interests and Total Equity Attributable to Equity Shareholders (Detail) - CNY (¥) ¥ in Millions | Dec. 18, 2020 | Jan. 01, 2020 | Dec. 17, 2019 | Apr. 23, 2019 | Dec. 31, 2021 | Dec. 31, 2019 | Dec. 31, 2020 |
Cash consideration paid: | |||||||
Non-current assets | ¥ 285,345 | ¥ 287,398 | |||||
Current assets | 37,866 | 38,985 | |||||
Non-current liabilities | (127,713) | (145,571) | |||||
Current liabilities | (110,990) | (95,681) | |||||
Net cash inflow | ¥ (176) | ||||||
China Southern Air Logistics Co Ltd [member] | |||||||
Cash consideration paid: | |||||||
Capital injection from third parties | 3,355 | ||||||
Less: Portion of net assets disposed | 2,830 | ||||||
Other reserves in equity | 525 | ||||||
Non-current assets | 2,046 | 732 | |||||
Current assets | 12,124 | 8,479 | |||||
Non-current liabilities | (91) | (112) | |||||
Current liabilities | ¥ (3,505) | ¥ (2,708) | |||||
Guangzhou Baiyun International Logistic Company Limited [member] | |||||||
Cash consideration paid: | |||||||
Cash consideration paid | ¥ 260 | ||||||
Less: Portion of net assets disposed | 105 | ||||||
Other reserves in equity | ¥ 155 | ||||||
Shenyang Northern Aircraft Maintenance Co Ltd [member] | |||||||
Cash consideration paid: | |||||||
Non-current assets | ¥ 31 | ||||||
Current assets | 41 | ||||||
Non-current liabilities | (6) | ||||||
Current liabilities | (3) | ||||||
Total net identifiable assets | 63 | ||||||
Cash consideration paid | (14) | ||||||
Cash and cash equivalents acquired | 26 | ||||||
Net cash inflow | ¥ 12 | ||||||
Guangdong Southern Airline Pearl Aviation Services Company Limited [member] | |||||||
Cash consideration paid: | |||||||
Non-current assets | ¥ 19 | ||||||
Current assets | 252 | ||||||
Current liabilities | (257) | ||||||
Total net identifiable assets | 14 | ||||||
Cash consideration paid | (9) | ||||||
Cash and cash equivalents acquired | 173 | ||||||
Net cash inflow | ¥ 164 | ||||||
CSAGA [Member] | |||||||
Cash consideration paid: | |||||||
Cash consideration received from third parties on partial disposal of equity interests | ¥ 332 | ||||||
Capital injection from third parties | 510 | ||||||
Less: Portion of net assets disposed | 667 | ||||||
Other reserves in equity | ¥ 175 |
Interest in Associates - Summar
Interest in Associates - Summary of Principal Associates (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of associates [line items] | ||
Share of net assets | ¥ 2,637 | ¥ 2,449 |
China Southern Airlines Group Finance Company Limited ("Finance Company") | ||
Disclosure of associates [line items] | ||
Place of establishment/operation | PRC | |
Group's effective interest | 48.59% | |
Proportion of ownership interest held by The Company | 41.81% | |
Proportion of ownership interest held by Subsidiaries | 6.78% | |
Proportion of voting rights held by the Group | 48.59% | |
Principal activity | Provision of airlines financial services | |
Sichuan Airlines Co.,Ltd [member] | ||
Disclosure of associates [line items] | ||
Place of establishment/operation | PRC | |
Group's effective interest | 39.00% | |
Proportion of ownership interest held by The Company | 39.00% | |
Proportion of ownership interest held by Subsidiaries | 0.00% | |
Proportion of voting rights held by the Group | 39.00% | |
Principal activity | Airline transportation | |
Southern Airlines Culture And Media Co., Ltd. [member] | ||
Disclosure of associates [line items] | ||
Place of establishment/operation | PRC | |
Group's effective interest | 40.00% | |
Proportion of ownership interest held by The Company | 40.00% | |
Proportion of ownership interest held by Subsidiaries | 0.00% | |
Proportion of voting rights held by the Group | 40.00% | |
Principal activity | Advertising services | |
Shenyang Konggang Logistic Co.,Ltd [Member] | ||
Disclosure of associates [line items] | ||
Place of establishment/operation | PRC | |
Group's effective interest | 45.00% | |
Proportion of ownership interest held by The Company | 45.00% | |
Proportion of ownership interest held by Subsidiaries | 0.00% | |
Proportion of voting rights held by the Group | 45.00% | |
Principal activity | Ground services | |
Xinjiang Civil Aviation Property Management Limited [member] | ||
Disclosure of associates [line items] | ||
Place of establishment/operation | PRC | |
Group's effective interest | 42.80% | |
Proportion of ownership interest held by The Company | 42.80% | |
Proportion of ownership interest held by Subsidiaries | 0.00% | |
Proportion of voting rights held by the Group | 42.80% | |
Principal activity | Property management | |
Beijing Xingming Lake Jinyan Hotel Co Ltd [Member] | ||
Disclosure of associates [line items] | ||
Place of establishment/operation | PRC | |
Group's effective interest | 49.00% | |
Proportion of ownership interest held by The Company | 0.00% | |
Proportion of ownership interest held by Subsidiaries | 49.00% | |
Proportion of voting rights held by the Group | 49.00% | |
Principal activity | Catering and accommodation services | |
Shangzhou Aviation Logistics Co Ltd [Member] | ||
Disclosure of associates [line items] | ||
Place of establishment/operation | PRC | |
Group's effective interest | 37.90% | |
Proportion of ownership interest held by The Company | 0.00% | |
Proportion of ownership interest held by Subsidiaries | 37.90% | |
Proportion of voting rights held by the Group | 37.90% | |
Principal activity | Airline transportation | |
Beijing Airport Inflight Kitchen Co Ltd [Member] | ||
Disclosure of associates [line items] | ||
Place of establishment/operation | PRC | |
Group's effective interest | 30.00% | |
Proportion of ownership interest held by The Company | 30.00% | |
Proportion of ownership interest held by Subsidiaries | 0.00% | |
Proportion of voting rights held by the Group | 30.00% | |
Principal activity | Air catering services |
Interest in Associates - Summ_2
Interest in Associates - Summarized Financial Information of Aggregated Individually Immaterial Associates (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of associates [line items] | |||
Aggregate amounts of the Group's share of other comprehensive income | ¥ 1 | ¥ (5) | ¥ 3 |
Aggregated individually immaterial associates [member] | |||
Disclosure of associates [line items] | |||
Aggregate carrying amount of individually immaterial associates | 2,637 | 2,449 | 3,322 |
Aggregate amounts of the Group's share of Profit/(loss) from continuing operations | 9 | (776) | (178) |
Aggregate amounts of the Group's share of other comprehensive income | 1 | (5) | 3 |
Aggregate amounts of the Group's share of total comprehensive income | ¥ 10 | ¥ (781) | ¥ (175) |
Interest in Joint Ventures - Su
Interest in Joint Ventures - Summary of Principal Joint Ventures (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of joint ventures [line items] | ||
Interest in joint ventures | ¥ 3,341 | ¥ 3,225 |
MTU Maintenance Zhuhai Company Limited [member] | ||
Disclosure of joint ventures [line items] | ||
Place of establishment/operation | PRC | |
Group's effective interest | 50.00% | |
Proportion of ownership interest held by The Company | 50.00% | |
Proportion of ownership interest held by Subsidiaries | 0.00% | |
Proportion of voting rights held by the Group | 50.00% | |
Principal activity | Aircraft repair and maintenance services | |
Guangzhou Aircraft Maintenance Engineering Co., Ltd [member] | ||
Disclosure of joint ventures [line items] | ||
Place of establishment/operation | PRC | |
Group's effective interest | 50.00% | |
Proportion of ownership interest held by The Company | 50.00% | |
Proportion of ownership interest held by Subsidiaries | 0.00% | |
Proportion of voting rights held by the Group | 50.00% | |
Principal activity | Aircraft repair and maintenance services |
Interest in Joint Ventures - _2
Interest in Joint Ventures - Summarized Financial Information of Aggregated Individually Immaterial Joint Ventures (Detail) - Aggregated individually immaterial joint ventures [member] - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of joint ventures [line items] | |||
Aggregate carrying amount of individually immaterial joint ventures | ¥ 3,341 | ¥ 3,225 | ¥ 3,124 |
Aggregate amounts of the Group's share of Profit from continuing operations and total comprehensive income | ¥ 271 | ¥ 309 | ¥ 365 |
Financial Assets - Summary of F
Financial Assets - Summary of Financial Assets (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||
Other equity instrument investments (FVOCI) | ¥ 563 | ¥ 799 |
Other non-current financial assets (FVPL) | 589 | 92 |
Non listed shares [member] | ||
Disclosure of financial assets [line items] | ||
Other equity instrument investments (FVOCI) | 40 | 100 |
Other non-current financial assets (FVPL) | 27 | 28 |
Non-tradable shares [member] | ||
Disclosure of financial assets [line items] | ||
Other equity instrument investments (FVOCI) | 523 | 699 |
Listed shares [member] | ||
Disclosure of financial assets [line items] | ||
Other non-current financial assets (FVPL) | 68 | ¥ 64 |
Long-term receivables [member] | ||
Disclosure of financial assets [line items] | ||
Other non-current financial assets (amortized cost) | ¥ 494 |
Financial Assets - Summary of_2
Financial Assets - Summary of Financial Assets (Parenthetical) (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of financial assets [line items] | ||
Dividend income | ¥ 4 | ¥ 23 |
Long-term Receivables | 783 | |
Financial Lease Agreement [Member] | ||
Disclosure of financial assets [line items] | ||
Long-term Receivables | ¥ 183 |
Derivative financial liabilit_3
Derivative financial liabilities - Summary of Derivative Financial Instruments (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about financial instruments [line items] | ||
Current derivative financial liabilities | ¥ 1,222 | ¥ 3,148 |
Non-current derivative financial liabilities | 20 | 53 |
Interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Measured at FVOCI | 0 | 42 |
Measured at FVPL | 20 | 11 |
Forward foreign exchange and foreign exchange options contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Forward foreign exchange and foreign exchange options contracts | 0 | 56 |
Derivative component of convertible bonds [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative component of convertible bonds | ¥ 1,222 | ¥ 3,092 |
Derivative financial liabilit_4
Derivative financial liabilities - Summary of Derivative Financial Instruments (Parenthetical) (Detail) ¥ / shares in Units, ¥ in Millions, $ in Millions | Oct. 31, 2020CNY (¥)Aircraft¥ / shares | Dec. 31, 2021CNY (¥)¥ / sharesshares | Dec. 31, 2020CNY (¥)Aircraft | Dec. 31, 2021USD ($)shares | Dec. 31, 2020USD ($)Aircraft |
Disclosure of detailed information about financial instruments [line items] | |||||
Notional principal of the outstanding derivative contracts | ¥ 100 | ||||
Maturity of convertible bonds | six years | ||||
Sixth year [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowings interest rate | 2.00% | ||||
Bottom of range [member] | Fixed rate from 1.64% to 1.72% [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowings interest rate | 1.78% | 1.75% | 1.78% | 1.75% | |
Top of range [member] | Fixed rate from 1.64% to 1.72% [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowings interest rate | 4.90% | 5.03% | 4.90% | 5.03% | |
Interest rate swaps [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Notional principal of the outstanding derivative contracts | $ | $ 190 | $ 258 | |||
Interest rate swaps [member] | Bottom of range [member] | Fixed rate from 1.64% to 1.72% [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowings interest rate | 1.64% | 1.64% | |||
Interest rate swaps [member] | Top of range [member] | Fixed rate from 1.64% to 1.72% [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowings interest rate | 1.72% | 1.72% | |||
Forward foreign exchange contracts [Member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Notional principal of the outstanding derivative contracts | $ | $ 400 | ||||
Fair value of forward foreign exchange contracts recognized in liabilities | ¥ 56 | ||||
Derivative component of convertible bonds [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Number of convertible bonds issued | Aircraft | 160,000,000 | 160,000,000 | 160,000,000 | ||
Convertible bond conversion price per share | ¥ / shares | ¥ 6.24 | ¥ 6.24 | |||
Percentage of bond conversion over par value | 106.50% | ||||
Change In Fair Value Of derivative Component | ¥ 1,222 | ¥ 3,092 | |||
Gains (Losses) on change in fair value of derivatives | ¥ (269) | 201 | |||
Number of convertible bonds converted | shares | 101,034,070 | 101,034,070 | |||
Increasing Share Capital from convertible bonds | ¥ 1,619 | ||||
Number of convertible bonds issued remaining | shares | 58,965,930 | 58,965,930 | |||
Convertible Bonds Carrying Value | ¥ 4,992 | ¥ 12,833 | |||
Derivative component of convertible bonds [member] | First year [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowings interest rate | 0.20% | ||||
Derivative component of convertible bonds [member] | Second year [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowings interest rate | 0.40% | ||||
Derivative component of convertible bonds [member] | Third year [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowings interest rate | 0.60% | ||||
Derivative component of convertible bonds [member] | Fourth year [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowings interest rate | 0.80% | ||||
Derivative component of convertible bonds [member] | Fifth year [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Borrowings interest rate | 1.50% |
Changes in fair value of fina_3
Changes in fair value of financial assets / (liabilities) - Summary of Changes in Fair Value of Financial Instruments (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of fair value measurement of assets [line items] | ||
Increase/(decrease) in the fair value measurement of assets and liabilities | ¥ (309) | ¥ 53 |
Other non-current financial assets (FVPL) [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Increase/(decrease) in the fair value measurement of assets and liabilities | 3 | (14) |
Interest rate swaps measured at FVPL [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Increase/(decrease) in the fair value measurement of assets and liabilities | 17 | (11) |
Forward foreign exchange and foreign exchange options contracts [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Increase/(decrease) in the fair value measurement of assets and liabilities | (60) | (107) |
Derivative component of convertible bonds [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Increase/(decrease) in the fair value measurement of assets and liabilities | ¥ (269) | 201 |
Cross currency swaps [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Increase/(decrease) in the fair value measurement of assets and liabilities | ¥ (16) |
Deferred tax assets _ (liabil_3
Deferred tax assets / (liabilities) - Movements of Net Deferred Tax Assets (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | ¥ 7,659 | ¥ 2,453 |
(Charged)/credited to consolidated income statement | 5,088 | 5,132 |
Credited to other comprehensive income | 50 | 74 |
Ending balance | 12,797 | 7,659 |
Deferred tax liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (1,068) | (1,016) |
(Charged)/credited to consolidated income statement | 325 | (116) |
Credited to other comprehensive income | 45 | 64 |
Ending balance | (698) | (1,068) |
Deferred tax liabilities [member] | Accrued expenses [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (144) | (191) |
(Charged)/credited to consolidated income statement | 138 | 47 |
Ending balance | (6) | (144) |
Deferred tax liabilities [member] | Change in fair value of derivative financial liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (34) | (54) |
(Charged)/credited to consolidated income statement | 34 | 20 |
Ending balance | (34) | |
Deferred tax liabilities [member] | Others [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (12) | (14) |
(Charged)/credited to consolidated income statement | 2 | 2 |
Ending balance | (10) | (12) |
Deferred tax liabilities [member] | Depreciation allowances under tax in excess of the related depreciation under accounting [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (669) | (478) |
(Charged)/credited to consolidated income statement | 150 | (191) |
Ending balance | (519) | (669) |
Deferred tax liabilities [member] | Fair value remeasurement of identifiable assets in business combination [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (27) | (29) |
(Charged)/credited to consolidated income statement | 2 | 2 |
Ending balance | (25) | (27) |
Deferred tax liabilities [member] | Change in fair value of other equity instrument investments [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (166) | (229) |
Credited to other comprehensive income | 45 | 63 |
Ending balance | (121) | (166) |
Deferred tax liabilities [member] | Change in fair value of other non-current financial assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (16) | (20) |
(Charged)/credited to consolidated income statement | (1) | 4 |
Ending balance | (17) | (16) |
Deferred tax liabilities [member] | Change in fair value of derivative financial assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (1) | |
Credited to other comprehensive income | 1 | |
Deferred tax assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 8,727 | 3,469 |
(Charged)/credited to consolidated income statement | 4,763 | 5,248 |
Credited to other comprehensive income | 5 | 10 |
Ending balance | 13,495 | 8,727 |
Deferred tax assets [member] | Net effect on right of use assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 1,307 | 1,823 |
(Charged)/credited to consolidated income statement | 268 | (516) |
Ending balance | 1,575 | 1,307 |
Deferred tax assets [member] | Accrued expenses [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 1,456 | 1,114 |
(Charged)/credited to consolidated income statement | 86 | 342 |
Ending balance | 1,542 | 1,456 |
Deferred tax assets [member] | Provision for major overhauls [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 361 | 262 |
(Charged)/credited to consolidated income statement | 122 | 99 |
Ending balance | 483 | 361 |
Deferred tax assets [member] | Provision for impairment losses [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 1,118 | 81 |
(Charged)/credited to consolidated income statement | 375 | 1,037 |
Ending balance | 1,493 | 1,118 |
Deferred tax assets [member] | Provision for tax losses (note) [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 4,288 | 7 |
(Charged)/credited to consolidated income statement | 3,805 | 4,281 |
Ending balance | 8,093 | 4,288 |
Deferred tax assets [member] | Change in fair value of derivative financial liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 10 | |
(Charged)/credited to consolidated income statement | 22 | |
Credited to other comprehensive income | (10) | 10 |
Ending balance | 22 | 10 |
Deferred tax assets [member] | Others [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 130 | 114 |
(Charged)/credited to consolidated income statement | 12 | 16 |
Ending balance | 142 | 130 |
Deferred tax assets [member] | Contract Liabilities Or Other Non Current Liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 57 | 68 |
(Charged)/credited to consolidated income statement | (1) | (11) |
Ending balance | 56 | ¥ 57 |
Deferred tax assets [member] | Change in fair value of other equity instrument investments [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Credited to other comprehensive income | 15 | |
Ending balance | 15 | |
Deferred tax assets [member] | Depreciation allowances under tax in excess of the related depreciation under accounting [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
(Charged)/credited to consolidated income statement | 74 | |
Ending balance | ¥ 74 |
Deferred tax assets _ (liabil_4
Deferred tax assets / (liabilities) - Movements of Net Deferred Tax Assets (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Bottom of range [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax losses carry forward period | 5 years |
Top of range [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax losses carry forward period | 8 years |
Deferred tax assets _ (liabil_5
Deferred tax assets / (liabilities) - Summary of Reconciliation to the Consolidated Statement of Financial Position (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |||
Net deferred tax asset recognized in the statement of financial position | ¥ 12,823 | ¥ 7,739 | |
Net deferred tax liability recognized in the statement of financial position | (26) | (80) | |
Deferred tax liability asset | ¥ 12,797 | ¥ 7,659 | ¥ 2,453 |
Deferred tax assets _ (liabil_6
Deferred tax assets / (liabilities) - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about Deferred tax assets/(liabilities) [Line Items] | ||
Unused tax losses for which no deferred tax assets has been recognized | ¥ 3,020 | ¥ 1,058 |
Other deductible temporary differences for which no deferred tax assets has been recognized | ¥ 1,094 | ¥ 819 |
Bottom of range [member] | ||
Disclosure of detailed information about Deferred tax assets/(liabilities) [Line Items] | ||
Maximum period available in the PRC for tax losses carrying forward to set off future assessable income | 5 years | |
Top of range [member] | ||
Disclosure of detailed information about Deferred tax assets/(liabilities) [Line Items] | ||
Maximum period available in the PRC for tax losses carrying forward to set off future assessable income | 8 years |
Deferred Tax Assets_(Liabilitie
Deferred Tax Assets/(Liabilities) - Analysis of Expiry Dates of Unrecognized Unused Tax Losses (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses for which no deferred tax assets has been recognized | ¥ 3,020 | ¥ 1,058 |
2021 [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses for which no deferred tax assets has been recognized | 0 | 92 |
2022 [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses for which no deferred tax assets has been recognized | 82 | 82 |
2023 [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses for which no deferred tax assets has been recognized | 109 | 110 |
2024 [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses for which no deferred tax assets has been recognized | 336 | 337 |
2026 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses for which no deferred tax assets has been recognized | 1,515 | 0 |
2028 [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses for which no deferred tax assets has been recognized | ¥ 978 | ¥ 437 |
Other Assets - Summary of Other
Other Assets - Summary of Other Assets (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of other non-current assets [line items] | ||
Beginning balance | ¥ 2,877 | ¥ 1,979 |
Additions | 379 | 920 |
Transferred from construction in progress | 502 | 356 |
Disposal | (11) | |
Amortisation for the year | (518) | (378) |
Provision for impairment losses | (18) | |
Ending balance | 3,211 | 2,877 |
Software [member] | ||
Disclosure of other non-current assets [line items] | ||
Beginning balance | 608 | 482 |
Additions | 83 | 70 |
Transferred from construction in progress | 474 | 277 |
Disposal | 0 | |
Amortisation for the year | (330) | (221) |
Provision for impairment losses | 0 | |
Ending balance | 835 | 608 |
Leasehold improvements [member] | ||
Disclosure of other non-current assets [line items] | ||
Beginning balance | 284 | 251 |
Additions | 43 | 46 |
Transferred from construction in progress | 28 | 79 |
Disposal | (7) | |
Amortisation for the year | (105) | (92) |
Provision for impairment losses | (18) | |
Ending balance | 225 | 284 |
Others [member] | ||
Disclosure of other non-current assets [line items] | ||
Beginning balance | 1,985 | 1,246 |
Additions | 253 | 804 |
Transferred from construction in progress | 0 | 0 |
Disposal | (4) | |
Amortisation for the year | (83) | (65) |
Provision for impairment losses | 0 | |
Ending balance | ¥ 2,151 | ¥ 1,985 |
Other Assets - Additional Infor
Other Assets - Additional Information (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Related parties [member] | ||
Disclosure Of Other Non Current Assets [line items] | ||
Prepayments to related parties | ¥ 1,302 | ¥ 1,222 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of inventories [line items] | ||
Inventories | ¥ 1,652 | ¥ 1,760 |
Gross carrying amount [member] | ||
Disclosure of inventories [line items] | ||
Consumable spare parts and maintenance materials | 1,559 | 1,613 |
Other supplies | 173 | 219 |
Inventories | 1,732 | 1,832 |
Accumulated impairment provision [member] | ||
Disclosure of inventories [line items] | ||
Inventories | ¥ (80) | ¥ (72) |
Inventories - Impairment of Inv
Inventories - Impairment of Inventory (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Provision of inventories [Abstract] | ||
Beginning balance | ¥ 72 | ¥ 54 |
Provision for inventories | 17 | 56 |
Written off upon disposal | (9) | (38) |
Ending balance | ¥ 80 | ¥ 72 |
Trade Receivables - Summary of
Trade Receivables - Summary of Trade Receivables (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||
Trade receivables | ¥ 2,858 | ¥ 2,525 |
Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 2,897 | 2,568 |
Loss allowance [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | ¥ (39) | ¥ (43) |
Trade Receivables - Ageing Anal
Trade Receivables - Ageing Analysis of Trade Receivables Based on Transaction Date (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||
Trade receivables | ¥ 2,858 | ¥ 2,525 |
Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 2,897 | 2,568 |
Gross carrying amount [member] | Within 1 month [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 2,337 | 1,972 |
Gross carrying amount [member] | More than 1 month but less than 3 months [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 273 | 307 |
Gross carrying amount [member] | More than 3 month but less than 1 year [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 236 | 231 |
Gross carrying amount [member] | More than 1 year [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 51 | 58 |
Loss allowance [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | ¥ (39) | ¥ (43) |
Trade Receivables - Trade Recei
Trade Receivables - Trade Receivables by Currencies (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||
Trade receivables | ¥ 2,858 | ¥ 2,525 |
Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 2,897 | 2,568 |
Gross carrying amount [member] | RMB [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 2,631 | 2,446 |
Gross carrying amount [member] | USD [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 195 | 48 |
Gross carrying amount [member] | EURO [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 16 | 13 |
Gross carrying amount [member] | HKD [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 11 | 9 |
Gross carrying amount [member] | AUD [Member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 9 | 7 |
Gross carrying amount [member] | BDT [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | 7 | 9 |
Gross carrying amount [member] | Others [member] | ||
Disclosure of financial assets [line items] | ||
Trade receivables | ¥ 28 | ¥ 36 |
Other Receivables - Summary of
Other Receivables - Summary of Other Receivables (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||
Other receivables | ¥ 9,757 | ¥ 8,506 |
Other receivables | 9,599 | 8,347 |
Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
VAT recoverable | 7,854 | 6,072 |
Government grants receivables | 474 | 523 |
Rebate receivables on aircraft acquisitions | 302 | 497 |
Other deposits | 155 | 170 |
Others | 972 | 1,244 |
Loss allowance [member] | ||
Disclosure of financial assets [line items] | ||
Other receivables | ¥ (158) | ¥ (159) |
Other Receivables - Additional
Other Receivables - Additional Information (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||
Weighted average annualized interest rate of term deposit | 1.95% | 2.07% |
Term deposits | ¥ 227 | ¥ 287 |
Flying College [Member] | ||
Disclosure of financial assets [line items] | ||
Prepayments of training expense | ¥ 148 | ¥ 148 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [abstract] | ||||
Deposits in banks and other financial institutions | ¥ 1 | ¥ 5 | ||
Cash at bank and other financial institutions and on hand | 21,455 | 25,414 | ||
Cash and cash equivalents in the consolidated statement of financial position | ¥ 21,456 | ¥ 25,419 | ¥ 1,849 | ¥ 6,928 |
Cash and Cash Equivalents - Cas
Cash and Cash Equivalents - Cash and Cash Equivalents by Currencies (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||||
Cash and cash equivalents | ¥ 21,456 | ¥ 25,419 | ¥ 1,849 | ¥ 6,928 |
RMB [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and cash equivalents | 20,457 | 24,947 | ||
USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and cash equivalents | 782 | 272 | ||
EURO [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and cash equivalents | 88 | 64 | ||
AUD [Member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and cash equivalents | 20 | 15 | ||
JPY [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and cash equivalents | 12 | 21 | ||
HKD [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and cash equivalents | 31 | 15 | ||
Others [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and cash equivalents | ¥ 66 | ¥ 85 |
Cash and Cash Equivalents - Rec
Cash and Cash Equivalents - Reconciliation of (loss)/Profit before Income Tax to Cash Generated from Operating Activities (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets [abstract] | |||
(Loss)/profit before income tax | ¥ (13,910) | ¥ (15,195) | ¥ 4,055 |
Adjustments for: | |||
Depreciation and amortization | 24,241 | 24,590 | 24,620 |
Impairment losses on property, plant, equipment | 994 | 3,279 | 18 |
Impairment losses on right-of-use assets | 1,585 | 682 | |
Impairment losses on other assets | 18 | ||
Loss on disposal of a subsidiary | 8 | ||
Credit Losses | (1) | 164 | 13 |
Share of associates' results | (9) | 776 | 178 |
Share of joint ventures' results | (271) | (309) | (365) |
Gain on disposal of property, plant and equipment and construction in progress | (363) | (57) | (140) |
Changes in fair value of financial assets/ liabilities | 309 | (53) | (265) |
Remeasurement of the originally held equity interests in a joint venture | 0 | 0 | (13) |
Interest income | (675) | (322) | (74) |
Interest expense | 6,202 | 6,716 | 5,845 |
Dividends income from other non-current financial assets | (4) | (23) | (23) |
Exchange (gain)/losses, net | (1,524) | (3,170) | 1,268 |
Changes in working capital | |||
Decrease / (increase) in inventories | 108 | 133 | (179) |
Decrease in contract liabilities and other non-current liabilities | (85) | (134) | (337) |
(Decrease) / increase in sales in advance of carriage | (281) | (6,306) | 1,709 |
(Decrease) / increase in deferred benefits and gains | (44) | (64) | 73 |
(Increase) / decrease in operating receivables | (1,593) | 1,408 | 1,165 |
Increase / (decrease) in operating payables | 580 | (1,396) | 2,180 |
Cash generated from operating activities | ¥ 15,277 | ¥ 10,727 | ¥ 39,728 |
Cash and Cash Equivalents - S_2
Cash and Cash Equivalents - Summary of Reconciliation of Liabilities Arising from Financing Activities (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | ¥ 202,591 | ¥ 185,064 | |
Changes from financing cash flows: | |||
Proceeds from bank borrowings | 76,910 | 71,841 | ¥ 33,985 |
Proceeds from issuance of ultra-short-term financing bills | 82,500 | 48,300 | |
Proceeds from corporate bonds | 9,000 | 25,000 | |
Repayment of bank borrowings | (70,437) | (52,601) | (50,374) |
Repayment of ultra-short-term financing bills | (68,900) | (59,800) | |
Repayment of corporate bonds | (3,749) | (2,655) | |
Capital element of lease rentals paid | (21,613) | (20,670) | |
Total changes from financing cash flows | 3,711 | 9,415 | |
Exchange adjustments | (1,474) | (3,213) | |
Changes in fair value | 236 | (129) | |
Increase in lease liabilities from entering into new leases during the year | 4,623 | 11,335 | |
Conversion of convertible bonds to ordinary shares | (10,456) | ||
Amortization amount of convertible bonds | 456 | 119 | |
Accrued interest expense | 571 | ||
Total other changes | (4,806) | 11,454 | |
Ending Balance | 200,258 | 202,591 | 185,064 |
Bank loans and other borrowings [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 78,233 | 51,180 | |
Changes from financing cash flows: | |||
Proceeds from bank borrowings | 76,910 | 71,841 | |
Proceeds from issuance of ultra-short-term financing bills | 82,500 | 48,300 | |
Proceeds from corporate bonds | 9,000 | 25,000 | |
Repayment of bank borrowings | (70,437) | (52,601) | |
Repayment of ultra-short-term financing bills | (68,900) | (59,800) | |
Repayment of corporate bonds | (3,749) | (2,655) | |
Capital element of lease rentals paid | 0 | ||
Total changes from financing cash flows | 25,324 | 30,085 | |
Exchange adjustments | 0 | 142 | |
Changes in fair value | 0 | ||
Increase in lease liabilities from entering into new leases during the year | 0 | ||
Amount initially recognized as the derivative component of convertible bonds | (3,293) | ||
Conversion of convertible bonds to ordinary shares | (8,317) | ||
Amortization amount of convertible bonds | 456 | 119 | |
Accrued interest expense | 571 | ||
Total other changes | (7,290) | (3,174) | |
Ending Balance | 96,267 | 78,233 | 51,180 |
Lease liabilities [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 121,213 | 134,074 | |
Changes from financing cash flows: | |||
Proceeds from bank borrowings | 0 | ||
Proceeds from issuance of ultra-short-term financing bills | 0 | ||
Proceeds from corporate bonds | 0 | ||
Repayment of bank borrowings | 0 | ||
Repayment of ultra-short-term financing bills | 0 | ||
Repayment of corporate bonds | 0 | ||
Capital element of lease rentals paid | (21,613) | (20,670) | |
Total changes from financing cash flows | (21,613) | (20,670) | |
Exchange adjustments | (1,474) | (3,526) | |
Changes in fair value | 0 | ||
Increase in lease liabilities from entering into new leases during the year | 4,623 | 11,335 | |
Amortization amount of convertible bonds | 0 | ||
Total other changes | 4,623 | 11,335 | |
Ending Balance | 102,749 | 121,213 | 134,074 |
Cross currency swaps (assets) | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 0 | (187) | |
Changes from financing cash flows: | |||
Exchange adjustments | 171 | ||
Changes in fair value | 16 | ||
Ending Balance | 0 | (187) | |
Interest rate swaps [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 53 | ||
Changes from financing cash flows: | |||
Proceeds from bank borrowings | 0 | ||
Proceeds from issuance of ultra-short-term financing bills | 0 | ||
Proceeds from corporate bonds | 0 | ||
Repayment of bank borrowings | 0 | ||
Repayment of ultra-short-term financing bills | 0 | ||
Repayment of corporate bonds | 0 | ||
Capital element of lease rentals paid | 0 | ||
Total changes from financing cash flows | 0 | ||
Exchange adjustments | 0 | ||
Changes in fair value | (33) | ||
Increase in lease liabilities from entering into new leases during the year | 0 | ||
Amortization amount of convertible bonds | 0 | ||
Total other changes | 0 | ||
Ending Balance | 20 | 53 | |
Derivative component of convertible bonds [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 3,092 | ||
Changes from financing cash flows: | |||
Changes in fair value | 269 | (201) | |
Amount initially recognized as the derivative component of convertible bonds | 3,293 | ||
Conversion of convertible bonds to ordinary shares | (2,139) | ||
Amortization amount of convertible bonds | 0 | ||
Total other changes | (2,139) | 3,293 | |
Ending Balance | 1,222 | 3,092 | |
Interest rate swaps (assets) [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | ¥ 53 | (3) | |
Changes from financing cash flows: | |||
Changes in fair value | 56 | ||
Ending Balance | ¥ 53 | ¥ (3) |
Cash and cash equivalents - S_3
Cash and cash equivalents - Summary Of Cash Outflow Related To Leases (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Detailed Information About Cash Outflow Related To Leases [Abstract] | |||
Within operating cash flows | ¥ (5,794) | ¥ (6,528) | ¥ (7,457) |
Within investing cash flows | (343) | (45) | (224) |
Within financing cash flows | (21,613) | (20,670) | (17,784) |
Total | ¥ (27,750) | ¥ (27,243) | ¥ (25,465) |
Cash and cash equivalents - S_4
Cash and cash equivalents - Summary Of Change In Classification Of Cash Flows Of Certain Rentals Paid On Leases (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of change in classification of cash flows of certain rentals paid on leases [Abstract] | |||
Lease rentals paid | ¥ (27,407) | ¥ (27,198) | ¥ (25,241) |
Acquisition of land use rights | (343) | (45) | (224) |
Total | ¥ (27,750) | ¥ (27,243) | ¥ (25,465) |
Asset Held For Sale - Summary o
Asset Held For Sale - Summary of Assets Held for Sale (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Assets held for sale [line items] | ||
Assets held for sale | ¥ 1,292 | |
Owned aircraft [member] | ||
Assets held for sale [line items] | ||
Assets held for sale | ¥ 1,292 | ¥ 0 |
Asset Held For Sale - Additiona
Asset Held For Sale - Additional Information (Detail) ¥ in Millions | Dec. 31, 2021CNY (¥) |
Assets Held For Sale [line items] | |
Assets Held for sale carrying value | ¥ 1,292 |
Aircraft And Other Flight Equipment [Member] | |
Assets Held For Sale [line items] | |
Assets Held for sale carrying value | 1,008 |
Lease Aircraft [Member] | |
Assets Held For Sale [line items] | |
Assets Held for sale carrying value | ¥ 284 |
Borrowings - Summary of Borrowi
Borrowings - Summary of Borrowings (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Non-current | ||
Long-term bank borrowings | ¥ 15,389 | ¥ 8,811 |
Corporate bonds (Note (ii)) | 1,000 | 7,500 |
Convertible bonds (Note 27(iii)) | 4,984 | 12,833 |
Medium-term notes (Note (iii)) | 16,981 | 8,990 |
Non-current borrowings | 38,354 | 38,134 |
Current | ||
Current portion of long-term borrowings | 169 | 67 |
Short-term borrowings | 25,116 | 25,286 |
Ultra-short-term financing bills | 24,710 | 10,999 |
Current portion of corporate bonds and medium-term notes (Notes (ii)&(iii)) | 7,910 | 3,747 |
Current portion of convertible bonds | 8 | 0 |
Current borrowings | 57,913 | 40,099 |
Borrowings | ||
Total borrowings | 96,267 | 78,233 |
Within 1 year [member] | ||
Borrowings | ||
Total borrowings | 57,913 | 40,099 |
After 1 year but within 2 years [member] | ||
Borrowings | ||
Total borrowings | 18,611 | 7,662 |
After 2 years but within 5 years [member] | ||
Borrowings | ||
Total borrowings | 16,747 | 14,394 |
After 5 years [member] | ||
Borrowings | ||
Total borrowings | ¥ 2,996 | ¥ 16,078 |
Borrowings - Summary of Borro_2
Borrowings - Summary of Borrowings (Parenthetical) (Detail) - CNY (¥) ¥ in Millions | May 25, 2026 | Mar. 16, 2020 | Nov. 20, 2019 | May 16, 2019 | Feb. 21, 2019 | Nov. 26, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 31, 2020 | May 25, 2016 |
Disclosure of detailed information about borrowings [line items] | |||||||||||
Aggregate nominal value | ¥ 100 | ||||||||||
Redemption of debt | ¥ 3,749 | ¥ 2,655 | |||||||||
Secured bank borrowings [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Bank borrowings used to secure assets | 0 | ||||||||||
Corporate bond [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Aggregate nominal value | ¥ 1,000 | ¥ 1,500 | ¥ 2,000 | ¥ 3,000 | ¥ 2,000 | ¥ 5,000 | |||||
Borrowings interest rate | 2.95% | 3.58% | 3.72% | 3.45% | 3.92% | 3.12% | |||||
Borrowings maturity period | 3 | 3 | 3 | 3 | 3 | ||||||
Redemption of debt | 2,000 | 149 | |||||||||
Corporate bond [member] | Investment properties [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Redemption of debt | ¥ 4,851 | ||||||||||
Medium Term Notes [Member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Aggregate nominal value | ¥ 9,000 | ¥ 8,000 | |||||||||
Borrowings maturity period | 3 | ||||||||||
Medium Term Notes [Member] | Bottom of range [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Borrowings interest rate | 2.90% | 2.44% | |||||||||
Borrowings maturity period | 3 | ||||||||||
Medium Term Notes [Member] | Top of range [member] | |||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||
Borrowings interest rate | 3.20% | 3.28% | |||||||||
Borrowings maturity period | 5 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about borrowings [line items] | ||
Loan received from related party | ¥ 1,001 | ¥ 0 |
Short-term borrowings [member] | Weighted average [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings interest rate | 2.20% | 2.23% |
Borrowings - Details of Borrowi
Borrowings - Details of Borrowings with Original Maturity over One Year (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings with original maturity over one year | ¥ 46,441 | ¥ 41,948 |
Less: borrowings due within one year classified as current liabilities | (8,087) | (3,814) |
Borrowings | 38,354 | 38,134 |
RMB [member] | Fixed interest rate at 1.20%~4.00%per annum as at December 31, 2021 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings with original maturity over one year | 12,483 | 8,028 |
RMB [member] | Corporate bond - fixed bond rate at 2.95 %-3.72 % [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings with original maturity over one year | 7,666 | 9,649 |
RMB [member] | Convertible Bond - Fixed interest rate (Note27(iii)) [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings with original maturity over one year | 4,992 | 12,833 |
RMB [member] | Medium-term notes- fixed interest rate at 2.44%-3.28% [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings with original maturity over one year | 18,225 | 10,588 |
RMB [member] | Floating interest rates 74%, 92% of benchmark interest rate (stipulated by PBOC) as at December 31, 2021 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings with original maturity over one year | ¥ 3,075 | ¥ 850 |
Borrowings - Details of Borro_2
Borrowings - Details of Borrowings with Original Maturity over One Year (Parenthetical) (Detail) | Dec. 31, 2021 | Dec. 31, 2020 |
Fixed interest rate at 1.20%~4.00%per annum as at December 31, 2021 [member] | RMB [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings interest rate | 1.20% | 1.20% |
Fixed interest rate at 1.20%~4.00%per annum as at December 31, 2021 [member] | RMB [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings interest rate | 4.00% | 4.00% |
Corporate bond - fixed bond rate at 2.95 %-3.72 % [member] | RMB [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings interest rate | 2.95% | 2.95% |
Corporate bond - fixed bond rate at 2.95 %-3.72 % [member] | RMB [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings interest rate | 3.72% | 3.72% |
Medium-term notes- fixed interest rate at 2.44%-3.28% [member] | RMB [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings interest rate | 2.44% | 2.44% |
Medium-term notes- fixed interest rate at 2.44%-3.28% [member] | RMB [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings interest rate | 3.28% | 3.28% |
Floating interest rates 74%, 92% of benchmark interest rate (stipulated by PBOC) as at December 31, 2021 [member] | USD [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Percentage of benchmark interest rate | 74.00% | |
Floating interest rates 74%, 92% of benchmark interest rate (stipulated by PBOC) as at December 31, 2021 [member] | USD [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Percentage of benchmark interest rate | 92.00% |
Borrowings - Borrowings by Curr
Borrowings - Borrowings by Currencies (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 96,267 | ¥ 78,233 |
RMB [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 96,267 | ¥ 78,233 |
Lease liabilities - Detailed In
Lease liabilities - Detailed Information About In Remaining Contractual Maturities Of The Group Lease Liabilities (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Statement [LineItems] | ||
Present value of the minimum lease payments | ¥ 102,749 | ¥ 121,213 |
Within 1 year [member] | ||
Statement [LineItems] | ||
Present value of the minimum lease payments | 20,805 | 20,930 |
After 1 year but within 2 years [member] | ||
Statement [LineItems] | ||
Present value of the minimum lease payments | 19,229 | 20,045 |
After 2 years but within 5 years [member] | ||
Statement [LineItems] | ||
Present value of the minimum lease payments | 38,950 | 47,164 |
After 5 years [member] | ||
Statement [LineItems] | ||
Present value of the minimum lease payments | ¥ 23,765 | ¥ 33,074 |
Lease liabilities - Summary of
Lease liabilities - Summary of lease liabilities demonimated by currencies (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | ¥ 102,749 | ¥ 121,213 |
Fixed interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | ¥ 51,070 | ¥ 53,823 |
Fixed interest rates [member] | Bottom of range [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Borrowings interest rate | 1.78% | 1.75% |
Fixed interest rates [member] | Top of range [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Borrowings interest rate | 4.90% | 5.03% |
Floating interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | ¥ 51,679 | ¥ 67,390 |
Floating interest rates [member] | Bottom of range [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Borrowings interest rate | 0.42% | 0.00% |
Floating interest rates [member] | Top of range [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Borrowings interest rate | 5.22% | 5.22% |
USD [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | ¥ 43,778 | ¥ 52,862 |
USD [member] | Fixed interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 38,254 | 43,519 |
USD [member] | Floating interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 5,524 | 9,343 |
JPY [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 523 | 1,025 |
JPY [member] | Fixed interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 9 | 6 |
JPY [member] | Floating interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 514 | 1,019 |
RMB [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 55,871 | 63,927 |
RMB [member] | Fixed interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 12,780 | 10,268 |
RMB [member] | Floating interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 43,091 | 53,659 |
EURO [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 2,558 | 3,257 |
EURO [member] | Fixed interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 8 | 14 |
EURO [member] | Floating interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 2,550 | 3,243 |
Other currencies [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 19 | 142 |
Other currencies [member] | Fixed interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | 19 | 16 |
Other currencies [member] | Floating interest rates [member] | ||
Disclosure of lease liabilities demonimated by currencies [line items] | ||
Lease liabilities | ¥ 0 | ¥ 126 |
Lease liabilities - Additional
Lease liabilities - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement [Line Items] | |||
Exchange gain/(loss), net | ¥ 1,575 | ¥ 3,485 | ¥ (1,477) |
Trade Payables - Ageing Analysi
Trade Payables - Ageing Analysis of Trade Payables Based on Transaction Date (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial liabilities [line items] | ||
Trade payables | ¥ 1,328 | ¥ 1,782 |
Within 1 month [member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | 403 | 431 |
More than 1 month but less than 3 months [member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | 221 | 473 |
More than 3 months but less than 6 months [member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | 221 | 313 |
More than 6 months but less than 1 year [member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | 268 | 329 |
More than 1 year [member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | ¥ 215 | ¥ 236 |
Trade Payables - Trade Payables
Trade Payables - Trade Payables by Currencies (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial liabilities [line items] | ||
Trade payables | ¥ 1,328 | ¥ 1,782 |
RMB [member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | 891 | 1,587 |
USD [member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | 431 | 165 |
Others [member] | ||
Disclosure of financial liabilities [line items] | ||
Trade payables | ¥ 6 | ¥ 30 |
Contract Liabilities - Summary
Contract Liabilities - Summary of Contract Liabilities (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of contract liabilities [Abstract] | |||
Unredeemed credits under the frequent flyer award programs | [1] | ¥ 1,459 | ¥ 1,451 |
Others | 83 | 62 | |
Total | ¥ 1,542 | ¥ 1,513 | |
[1] | As at December 31, 2021, unredeemed credits under the frequent flyer award programs represent the aggregated amounts of the transaction price allocated to the remaining performance obligation, which is expected to be recognized as revenue in the future when the customers obtain control of the goods or services. Movement of unredeemed credits under the frequent flyer award programs is set out below: |
Contract Liabilities - Summar_2
Contract Liabilities - Summary of Movements in Current Liabilities (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of contract liabilities [line items] | ||
Balance at January 1 | ¥ 3,196 | ¥ 3,331 |
-Curent, Beginning balance | 1,451 | 1,568 |
-Non-Curent, Beginning balance | 1,745 | 1,763 |
Addition as a result of increase of the unredeemed credits under the frequent flyer award programs | 1,628 | 1,270 |
Reduction as a result of revenue recognized during the year | (1,763) | (1,405) |
-Recognized as revenue from opening balance of contract liabilities | (1,344) | (1,192) |
-Recognized as revenue from current year addition of contract liabilities | (419) | (213) |
-Curent, Ending balance | 1,459 | 1,451 |
Balance at December 31 | 3,061 | 3,196 |
-Non-Curent, Ending balance | ¥ 1,602 | ¥ 1,745 |
Sales in Advance of Carriage -
Sales in Advance of Carriage - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Sales Inadvance Of Carriage [Line Items] | ||
Revenue recognised as sales in advance of carriage | ¥ 2,528 | ¥ 6,564 |
COVID-19 [Member] | ||
Disclosure Of Sales Inadvance Of Carriage [Line Items] | ||
Sales in advance of carriage refunded | ¥ 1,267 |
Other Non-current Liabilities -
Other Non-current Liabilities - Summary of Other Non-current Liabilities (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other non-current liabilities [abstract] | |||
Unredeemed credits under the frequent flyer award programs | ¥ 1,602 | ¥ 1,745 | ¥ 1,763 |
Long-term payables | 193 | 291 | |
Others | 29 | 0 | |
Other non-current liabilities | ¥ 1,824 | ¥ 2,036 |
Other Non-current Liabilities_2
Other Non-current Liabilities - Summary of Other Non-current Liabilities (Parenthetical) (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Other non-current payables | ¥ 193 | ¥ 291 |
Other Liabilities [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Other current payables | 98 | 94 |
Aircraft Sale And Leaseback Transaction [Member] | Additional Financing by Buyer Lessor [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Other non-current payables | ¥ 193 | ¥ 291 |
Balances with Related Compani_3
Balances with Related Companies - Summary of Amounts Due from/to Related Companies (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of transactions between related parties [line items] | ||
Amounts due from related companies, current | ¥ 115 | ¥ 85 |
Amounts due from related companies, non-current | 151 | 0 |
Amounts due to related companies | 363 | 357 |
Prepayments of acquisition of long-term assets | 1,302 | 1,222 |
CSAH and its affiliates [member] | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due from related companies, current | 14 | 10 |
Amounts due to related companies | 174 | 225 |
Prepayments of acquisition of long-term assets | 719 | 639 |
Associates [member] | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due from related companies, current | 72 | 57 |
Amounts due from related companies, non-current | 151 | 0 |
Amounts due to related companies | 14 | 13 |
Prepayments of acquisition of long-term assets | 495 | 495 |
Joint ventures [member] | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due from related companies, current | 28 | 18 |
Amounts due to related companies | 175 | 119 |
Prepayments of acquisition of long-term assets | 88 | 88 |
Other related companies [member] | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due from related companies, current | ¥ 1 | ¥ 0 |
Accrued Expenses - Summary of A
Accrued Expenses - Summary of Accrued Expenses (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Repairs and maintenance | ¥ 5,477 | ¥ 5,268 |
Salaries and welfare | 4,457 | 4,328 |
Landing and navigation fees | 1,855 | 2,121 |
Jet fuel costs | 1,524 | 961 |
Computer reservation services | 457 | 575 |
Provision for major overhauls | 124 | 426 |
Air catering expenses | 75 | 74 |
Interest expense | 0 | 512 |
Others | 1,510 | 1,655 |
Accrued expenses | ¥ 15,479 | ¥ 15,920 |
Other Liabilities - Summary of
Other Liabilities - Summary of Other Liabilities (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Payable for purchase of property, plant and equipment | ¥ 3,420 | ¥ 3,432 |
Civil Aviation Development Fund and airport tax payable | 714 | 885 |
Sales agent deposits | 446 | 485 |
Other taxes payable | 501 | 328 |
Deposit received for chartered flights | 259 | 239 |
Others | 2,438 | 2,104 |
Total | ¥ 7,778 | ¥ 7,473 |
Provision for Major Overhauls -
Provision for Major Overhauls - Details of Provision for Major Overhauls in Respect of Aircraft Held under Leases (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [Line Items] | ||
Beginning balance | ¥ 4,642 | |
Additional provision | 714 | ¥ 760 |
Utilization | (412) | (543) |
Ending balance | 4,944 | 4,642 |
Less: current portion | (124) | (426) |
Total | 4,820 | 4,216 |
IFRS 16 [Member] | ||
Statement [Line Items] | ||
Beginning balance | ¥ 4,642 | 4,425 |
Ending balance | ¥ 4,642 |
Deferred Benefits and Gains - S
Deferred Benefits and Gains - Summary of Deferred Benefits and Gains (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | ||
Maintenance rebates | ¥ 485 | ¥ 531 |
Government grants | 233 | 229 |
Others | 7 | 9 |
Deferred benefits and gains | ¥ 725 | ¥ 769 |
Share Capital - Summary of Shar
Share Capital - Summary of Share Capital (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of classes of share capital [line items] | ||
Issued capital | ¥ 16,948 | ¥ 15,329 |
Trade- restricted [member] | ||
Disclosure of classes of share capital [line items] | ||
Issued capital | 2,453 | 4,152 |
Tradable [member] | ||
Disclosure of classes of share capital [line items] | ||
Issued capital | 14,495 | 11,177 |
A Shares (par value RMB1.00 per share) [member] | Tradable [member] | ||
Disclosure of classes of share capital [line items] | ||
Issued capital | 4,073 | 4,073 |
H Shares (par value RMB1.00 per share) [member] | Trade- restricted [member] | ||
Disclosure of classes of share capital [line items] | ||
Issued capital | 1,210 | |
H Shares (par value RMB1.00 per share) [member] | Tradable [member] | ||
Disclosure of classes of share capital [line items] | ||
Issued capital | 4,275 | 3,065 |
Domestic state owned shares (par value RMB1.00 per share) [member] | Trade- restricted [member] | ||
Disclosure of classes of share capital [line items] | ||
Issued capital | 2,453 | 2,942 |
Domestic state owned shares (par value RMB1.00 per share) [member] | Tradable [member] | ||
Disclosure of classes of share capital [line items] | ||
Issued capital | ¥ 6,147 | ¥ 4,039 |
Share Capital - Summary of Sh_2
Share Capital - Summary of Share Capital (Parenthetical) (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Millions | Sep. 30, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | Oct. 31, 2020 | Apr. 30, 2020 |
Disclosure of classes of share capital [line items] | |||||
Issued capital | ¥ 16,948 | ¥ 15,329 | |||
Derivative Component of Convertible Bonds [Member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of convertible bonds converted | 101,034,070 | ||||
Issued capital | ¥ 1,619 | ||||
Share premium | ¥ 8,837 | ||||
Convertible bond conversion price per share | ¥ 6.24 | ¥ 6.24 | |||
Trade- restricted [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Issued capital | ¥ 2,453 | 4,152 | |||
Tradable [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Issued capital | ¥ 14,495 | ¥ 11,177 | |||
A Shares (par value RMB1.00 per share) owned by CSAH [Member] | Trade- restricted [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | 2,453,434,457 | 2,942,637,115 | |||
Issuance price per share | ¥ 1 | ¥ 1 | |||
A Shares (par value RMB1.00 per share) owned by CSAH [Member] | Tradable [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | 6,147,463,051 | 4,039,228,665 | |||
Issuance price per share | ¥ 1 | ¥ 1 | |||
A Shares (par value RMB1.00 per share) [member] | Tradable [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | 4,072,395,671 | 4,072,291,766 | |||
Issuance price per share | ¥ 1 | ¥ 1 | |||
Issued capital | ¥ 4,073 | ¥ 4,073 | |||
H Shares (par value RMB1.00 per share) [member] | Trade- restricted [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | 0 | 1,209,621,577 | |||
Issuance price per share | ¥ 1 | ¥ 1 | |||
Issued capital | ¥ 1,210 | ||||
H Shares (par value RMB1.00 per share) [member] | Tradable [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | 4,275,144,849 | 3,065,523,272 | |||
Issuance price per share | ¥ 1 | ¥ 1 | |||
Issued capital | ¥ 4,275 | ¥ 3,065 | |||
CSAH [member] | Twenty Eighteen A Shares [Member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | 1,578,073,089 | ||||
Lock-up period | 36 months | ||||
Number Of Shares Issued To Entity Was Released. | 489,202,658 | ||||
CSAH [member] | Twenty Eighteen H Shares [Member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | 600,925,925 | ||||
CSAH [member] | 2020 H Shares [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | 608,695,652 |
Reserves - Additional Informati
Reserves - Additional Information (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reserves within equity [line items] | ||
Final dividend proposed after the end of the reporting year, per share | ¥ 0 | ¥ 0 |
Other reserve [member] | ||
Disclosure of reserves within equity [line items] | ||
Appropriations to reserves | ¥ 0 | ¥ 0 |
Commitments - Capital Commitmen
Commitments - Capital Commitments Outstanding not Provided for in Financial Statements (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about capital commitment [line items] | ||
Capital commitments | ¥ 64,623 | ¥ 67,427 |
Aircraft and flight equipment [member] | ||
Disclosure of detailed information about capital commitment [line items] | ||
Capital commitments | 54,662 | 56,547 |
Acquisition interest in joint venture [member] | ||
Disclosure of detailed information about capital commitment [line items] | ||
Capital commitments | 185 | 405 |
Joint ventures [member] | ||
Disclosure of detailed information about capital commitment [line items] | ||
Authorised but not contracted for | 24 | 26 |
Investments accounted for using equity method [member] | ||
Disclosure of detailed information about capital commitment [line items] | ||
Capital commitments | 380 | 431 |
Other property, plant and equipment [member] | ||
Disclosure of detailed information about capital commitment [line items] | ||
Capital commitments | 3,796 | 4,970 |
Authorised but not contracted for | 5,785 | 5,479 |
Capital commitments | 9,581 | ¥ 10,449 |
Acquisition Interest In Associate [Member] | ||
Disclosure of detailed information about capital commitment [line items] | ||
Capital commitments | ¥ 171 |
Commitments - Approximate Total
Commitments - Approximate Total Future Payments, Including Estimated Amounts for Price Escalation through Anticipated Delivery Dates for Aircraft and Flight Equipment (Detail) - Aircraft and flight equipment [member] - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Capital commitments | ¥ 54,662 | ¥ 56,547 |
2021 [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Capital commitments | 0 | 28,382 |
2022 [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Capital commitments | 33,165 | 15,033 |
2023 [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Capital commitments | 15,093 | 11,910 |
2024 [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Capital commitments | ¥ 6,404 | ¥ 1,222 |
Material Related Party Transa_3
Material Related Party Transactions - Key Management Personnel Remuneration (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of remuneration of key management personnel [line items] | |||
Salaries, wages and welfare | ¥ 12,353 | ¥ 10,746 | ¥ 13,803 |
Retirement scheme contributions | 1,854 | 1,458 | 1,785 |
Remuneration for key management personnel | 14,207 | 12,204 | 15,588 |
Directors and supervisors [member] | |||
Disclosure of remuneration of key management personnel [line items] | |||
Remuneration for key management personnel | 1,733 | 1,590 | 1,298 |
Senior management [member] | |||
Disclosure of remuneration of key management personnel [line items] | |||
Remuneration for key management personnel | ¥ 12,474 | ¥ 10,614 | ¥ 14,290 |
Material Related Party Transa_4
Material Related Party Transactions - Details of Significant Transactions with Related Parties (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
CSAH and its affiliates [member] | |||
Disclosure of transactions between related parties [line items] | |||
Payment of lease charges on aircraft | ¥ 5,323 | ¥ 4,670 | ¥ 2,696 |
CSAH and its affiliates [member] | Aviation material sales income [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 4 | 7 | 36 |
CSAH and its affiliates [member] | Entrusted management income [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 39 | 27 | 27 |
CSAH and its affiliates [member] | Others [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 4 | 2 | 1 |
CSAH and its affiliates [member] | Commission expenses [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 39 | 36 | 44 |
CSAH and its affiliates [member] | Maintenance material purchase expense and lease charges for maintenance material [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 106 | 91 | 165 |
CSAH and its affiliates [member] | Air catering supplies expenses [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 84 | 88 | 142 |
CSAH and its affiliates [member] | Lease charges for land and buildings [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 407 | 350 | 353 |
CSAH and its affiliates [member] | Property management fee [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 154 | 129 | 151 |
CSAH and its affiliates [member] | Others [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 8 | 7 | 7 |
CSAH and its affiliates [member] | Commission income [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 18 | 5 | 14 |
Joint ventures and associates [member] | Rental income [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 7 | 7 | 7 |
Joint ventures and associates [member] | Others [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 15 | 9 | 15 |
Joint ventures and associates [member] | Commission expenses [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 6 | 10 | 14 |
Joint ventures and associates [member] | Repairing charges [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 2,474 | 1,773 | 2,442 |
Joint ventures and associates [member] | Property management fee [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 17 | 18 | 26 |
Joint ventures and associates [member] | Others [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 50 | 16 | 7 |
Joint ventures and associates [member] | Repairing charges and maintenance material purchase expenses [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 2,124 | 2,331 | 2,956 |
Joint ventures and associates [member] | Ground service expenses [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 13 | 131 | 112 |
Joint ventures and associates [member] | Air catering supplies [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 3 | 18 | 93 |
Joint ventures and associates [member] | Advertising expenses [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 131 | 169 | 196 |
Joint ventures and associates [member] | Maintenance material sales and handling income [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 30 | 14 | 7 |
Joint ventures and associates [member] | Entrustment income for advertising media business [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 2 | 2 | 1 |
Joint ventures and associates [member] | Repairing income [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 12 | 12 | 4 |
Joint ventures and associates [member] | Air catering supplies income [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 10 | 8 | 35 |
Joint ventures and associates [member] | Pilot training income [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 19 | 15 | 35 |
Joint ventures and associates [member] | Transfer of pilots income [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 24 | 0 | 0 |
Joint ventures and associates [member] | Ground service income [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 18 | 16 | 16 |
Joint ventures and associates [member] | Labor service income and rental income [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 0 | 0 | 8 |
Joint ventures and associates [member] | Lease charges for land and buildings [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 14 | 0 | 0 |
Joint ventures and associates [member] | Aircraft leasing income [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from rendering of services related party transactions | 4 | 0 | 0 |
Other related companies [member] | Others [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 0 | 0 | 9 |
Other related companies [member] | Computer reservation services [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 465 | 433 | 685 |
Other related companies [member] | Aviation supplies expenses [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | 0 | 0 | 53 |
Other related companies [member] | Canteen service [member] | |||
Disclosure of transactions between related parties [line items] | |||
Services received related party transactions | ¥ 0 | ¥ 0 | ¥ 24 |
Material Related Party Transa_5
Material Related Party Transactions - Additional Information (Detail) ¥ / shares in Units, ¥ in Millions | May 25, 2026 | Oct. 31, 2020shares¥ / shares | Mar. 31, 2020CNY (¥) | Dec. 31, 2021CNY (¥) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Jun. 30, 2021CNY (¥) |
Disclosure of transactions between related parties [line items] | |||||||
Loans from related party | ¥ 96,267 | ¥ 78,233 | |||||
Interest expense paid | 2,448 | 1,914 | ¥ 1,840 | ||||
Later than two years and not later than five years [member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Loans from related party | 16,747 | 14,394 | |||||
A Share Convertible Bond [Member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Number of convertible bonds issued | shares | 160,000,000 | ||||||
Convertible bond conversion price per share | ¥ / shares | ¥ 100 | ||||||
Number of convertible bonds subscribed | shares | 101,027,580 | ||||||
Unsecured Entrusted Loans [Member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Loans from related party | 1,001 | ¥ 0 | |||||
Interest expense paid | ¥ 1 | ||||||
Unsecured Entrusted Loans [Member] | Bottom of range [member] | Later than two years and not later than five years [member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Entrusted loans maturity period | 2 | ||||||
Unsecured Entrusted Loans [Member] | Top of range [member] | Later than two years and not later than five years [member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Entrusted loans maturity period | 5 | ||||||
Medium Term Notes [Member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Entrusted loans maturity period | 3 | ||||||
Medium Term Notes [Member] | SA Finance [Member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Debt instrument carrying amount | ¥ 300,000,000 | ||||||
Debt instrument outstanding amount | ¥ 300,000,000 | ||||||
Medium Term Notes [Member] | Bottom of range [member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Interest rate | 2.90% | 2.44% | |||||
Entrusted loans maturity period | 3 | ||||||
Medium Term Notes [Member] | Top of range [member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Interest rate | 3.20% | 3.28% | |||||
Entrusted loans maturity period | 5 | ||||||
A tranche of medium term notes [Member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Loans from related party | ¥ 1,000,000,000 | ||||||
Interest rate | 3.28% | ||||||
Entrusted loans maturity period | 5 years | ||||||
Southern Airlines Group Finance Co.,Ltd [member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Loans from related party | ¥ 3,018 | ¥ 1,686 | |||||
Interest expense paid | ¥ 76 | ¥ 27 | |||||
Interest rate range | 3.00% to 3.30% | 3.00% to 4.28% | |||||
Interest income received on deposits | ¥ 159 | ¥ 91 | |||||
Southern Airlines Group Finance Co.,Ltd [member] | CSAH [member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Loans from related party | ¥ 1,000 | ||||||
Interest expense paid | ¥ 22 | ¥ 89 | |||||
Interest rate | 3.85% | 3.92% |
Material Related Party Transa_6
Material Related Party Transactions - Details of Balances with Related Parties (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of transactions between related parties [line items] | ||
Receivables | ¥ 115 | ¥ 85 |
Accrued expenses | 1,973 | 2,506 |
Prepayments of acquisition of long-term assets | 1,302 | 1,222 |
Payables | 363 | 357 |
Long term receivables due from related parties | 151 | 0 |
CSAH and its affiliates [member] | ||
Disclosure of transactions between related parties [line items] | ||
Receivables | 14 | 10 |
Accrued expenses | 27 | 47 |
Prepayments of acquisition of long-term assets | 719 | 639 |
Payables | 174 | 225 |
Lease liabilities | 24,084 | 26,789 |
Associates [member] | ||
Disclosure of transactions between related parties [line items] | ||
Receivables | 72 | 57 |
Accrued expenses | 57 | 73 |
Prepayments of acquisition of long-term assets | 495 | 495 |
Payables | 14 | 13 |
Long term receivables due from related parties | 151 | 0 |
Joint ventures [member] | ||
Disclosure of transactions between related parties [line items] | ||
Receivables | 28 | 18 |
Accrued expenses | 1,277 | 1,927 |
Prepayments of acquisition of long-term assets | 88 | 88 |
Payables | 175 | 119 |
Other related companies [member] | ||
Disclosure of transactions between related parties [line items] | ||
Receivables | 1 | 0 |
Accrued expenses | ¥ 612 | ¥ 459 |
Material Related Party Transa_7
Material Related Party Transactions - Loans from and Deposits Placed with Southern Airlines Group Finance Co., Ltd (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of transactions between related parties [line items] | ||
Borrowings | ¥ 96,267 | ¥ 78,233 |
Deposits placed with SA Finance | 21,455 | 25,414 |
Within 1 year [member] | ||
Disclosure of transactions between related parties [line items] | ||
Borrowings | 57,913 | 40,099 |
After 1 year but within 2 years [member] | ||
Disclosure of transactions between related parties [line items] | ||
Borrowings | 18,611 | 7,662 |
After 2 years but within 5 years [member] | ||
Disclosure of transactions between related parties [line items] | ||
Borrowings | 16,747 | 14,394 |
Southern Airlines Group Finance Co.,Ltd [member] | ||
Disclosure of transactions between related parties [line items] | ||
Borrowings | 3,018 | 1,686 |
Deposits placed with SA Finance | 12,621 | 9,092 |
Southern Airlines Group Finance Co.,Ltd [member] | Unsecured loans [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Borrowings | 3,018 | 1,686 |
Southern Airlines Group Finance Co.,Ltd [member] | Unsecured loans [Member] | Within 1 year [member] | ||
Disclosure of transactions between related parties [line items] | ||
Borrowings | 2,978 | 1,515 |
Southern Airlines Group Finance Co.,Ltd [member] | Unsecured loans [Member] | After 1 year but within 2 years [member] | ||
Disclosure of transactions between related parties [line items] | ||
Borrowings | 40 | 111 |
Southern Airlines Group Finance Co.,Ltd [member] | Unsecured loans [Member] | After 2 years but within 5 years [member] | ||
Disclosure of transactions between related parties [line items] | ||
Borrowings | ¥ 0 | ¥ 60 |
Employee Benefits Plan - Additi
Employee Benefits Plan - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Classes of Employee Benefits Expense [Line Items] | |||
Total contribution into the Pension Scheme | ¥ 998 | ¥ 1,043 | ¥ 985 |
Contibution Forfeited To Defined Contribution Plan | ¥ 0 | ||
Bottom of range [member] | |||
Classes of Employee Benefits Expense [Line Items] | |||
Percentage of salary costs contributed to defined contribution retirement schemes | 14.00% | 14.00% | 12.00% |
Top of range [member] | |||
Classes of Employee Benefits Expense [Line Items] | |||
Percentage of salary costs contributed to defined contribution retirement schemes | 16.00% | 16.00% | 16.00% |
Supplementary Information to _3
Supplementary Information to the Consolidated Cash Flow Statement - Summary of Detailed Information About Non Cash Transaction (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Non Cash Transactions [Abstract] | ||
Lease of aircraft | ¥ 4,623 | ¥ 11,335 |
Convertible bonds converted to A shares | ¥ 10,456 |
Contingent Liabilities - Additi
Contingent Liabilities - Additional Information (Detail) - Pilot trainees [member] - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of contingent liabilities [line items] | ||
Guarantees provided on personal bank loans | ¥ 696 | ¥ 696 |
Personal bank loans drawn under guarantees | 181 | 221 |
Amount paid to banks due to default of payments | ¥ 2 | ¥ 0 |
Non-Adjusting Events After th_2
Non-Adjusting Events After the Financial Year End - Additional Information (Detail) ¥ in Millions, $ in Millions | Oct. 29, 2021CNY (¥)shares | Oct. 29, 2021HKD ($)shares | Dec. 31, 2020CNY (¥) |
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of shares issued | ¥ | ¥ 15,951 | ||
Class A share subscription agreement [member] | CSAH and its affiliates [member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of shares authorised | shares | 803,571,428 | 803,571,428 | |
Number of shares issued | ¥ | ¥ 4,500 | ||
Class H Share subscription agreement [member] | CSAH and its affiliates [member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of shares authorised | shares | 855,028,969 | 855,028,969 | |
Number of shares issued | ¥ 1,800 | $ 1,800 |
Directors' and Supervisors' E_3
Directors' and Supervisors' Emoluments - Remuneration of Every Director and Supervisor (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties [line items] | |||
Salaries, wages and welfare | ¥ 12,353 | ¥ 10,746 | ¥ 13,803 |
Employer's contribution to a retirement benefit scheme | 1,854 | 1,458 | 1,785 |
Total | 14,207 | 12,204 | 15,588 |
Wang Chang Shun [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 0 | 0 | |
Salaries, wages and welfare | 0 | 0 | |
Housing allowance | 0 | 0 | |
Employer's contribution to a retirement benefit scheme | 0 | 0 | |
Total | 0 | 0 | |
Ma Xu Lun [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 0 | 0 | 0 |
Salaries, wages and welfare | 0 | 0 | 0 |
Housing allowance | 0 | 0 | 0 |
Employer's contribution to a retirement benefit scheme | 0 | 0 | 0 |
Total | 0 | 0 | 0 |
Han Wen Sheng [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 0 | 0 | 0 |
Salaries, wages and welfare | 0 | 0 | 0 |
Housing allowance | 0 | 0 | 0 |
Employer's contribution to a retirement benefit scheme | 0 | 0 | 0 |
Total | 0 | 0 | 0 |
Pan Fu [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 0 | ||
Salaries, wages and welfare | 0 | ||
Housing allowance | 0 | ||
Employer's contribution to a retirement benefit scheme | 0 | ||
Total | 0 | ||
Li Jia Shi [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 0 | 0 | 0 |
Salaries, wages and welfare | 0 | 0 | 0 |
Housing allowance | 0 | 0 | 0 |
Employer's contribution to a retirement benefit scheme | 0 | 0 | 0 |
Total | 0 | 0 | 0 |
Ren Ji Dong [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 0 | ||
Salaries, wages and welfare | 667 | ||
Housing allowance | 0 | ||
Employer's contribution to a retirement benefit scheme | 131 | ||
Total | 798 | ||
Liu Chang Le [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 133 | ||
Salaries, wages and welfare | 0 | ||
Housing allowance | 0 | ||
Employer's contribution to a retirement benefit scheme | 0 | ||
Total | 133 | ||
Tan Jin Song [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 50 | 150 | 150 |
Salaries, wages and welfare | 0 | 0 | 0 |
Housing allowance | 0 | 0 | 0 |
Employer's contribution to a retirement benefit scheme | 0 | 0 | 0 |
Total | 50 | 150 | 150 |
Guo Wei [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 133 | ||
Salaries, wages and welfare | 0 | ||
Housing allowance | 0 | ||
Employer's contribution to a retirement benefit scheme | 0 | ||
Total | 133 | ||
Jiao Shu Ge [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 50 | 150 | 150 |
Salaries, wages and welfare | 0 | 0 | 0 |
Housing allowance | 0 | 0 | 0 |
Employer's contribution to a retirement benefit scheme | 0 | 0 | 0 |
Total | 50 | 150 | 150 |
Mao Juan [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 0 | 0 | 0 |
Salaries, wages and welfare | 478 | 706 | 712 |
Housing allowance | 0 | 0 | 0 |
Employer's contribution to a retirement benefit scheme | 134 | 126 | 129 |
Total | 612 | 832 | 841 |
Zheng Fan [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 20 | 60 | 60 |
Salaries, wages and welfare | 0 | 0 | 0 |
Housing allowance | 0 | 0 | 0 |
Employer's contribution to a retirement benefit scheme | 0 | 0 | 0 |
Total | 20 | 60 | 60 |
Gu Hui Zhong [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 153 | 60 | 60 |
Salaries, wages and welfare | 0 | 0 | 0 |
Housing allowance | 0 | 0 | 0 |
Employer's contribution to a retirement benefit scheme | 0 | 0 | 0 |
Total | 153 | 60 | 60 |
Lin Xiao Chun [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 0 | 0 | 0 |
Salaries, wages and welfare | 655 | 633 | 367 |
Housing allowance | 0 | 0 | 0 |
Employer's contribution to a retirement benefit scheme | 147 | 125 | 90 |
Total | 802 | ¥ 758 | 457 |
Zhang Zi Fang [member] | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 0 | ||
Salaries, wages and welfare | 0 | ||
Housing allowance | 0 | ||
Employer's contribution to a retirement benefit scheme | 0 | ||
Total | ¥ 0 | ||
Yan Yan | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 133 | ||
Salaries, wages and welfare | 0 | ||
Housing allowance | 0 | ||
Employer's contribution to a retirement benefit scheme | 0 | ||
Total | 133 | ||
Yang Bin | |||
Disclosure of transactions between related parties [line items] | |||
Directors' fees | 0 | ||
Salaries, wages and welfare | 294 | ||
Housing allowance | 0 | ||
Employer's contribution to a retirement benefit scheme | 25 | ||
Total | ¥ 319 |
Possible impact of amendments_3
Possible impact of amendments, new standards and interpretations issued but not yet effective for the year ended December 31, 2021 - Summary of New Standards or Interpretations Not Yet Adopted (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Amendments to IFRS 3, Reference to the Conceptual Framework [member] | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Effective for accounting periods beginning on or after | Jan. 1, 2022 |
Amendments to IAS 16, Property, Plant and Equipment: Proceeds before Intended Use [member] | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Effective for accounting periods beginning on or after | Jan. 1, 2022 |
Amendments to IAS 37, Onerous Contracts-Cost of Fulfilling a Contract [member] | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Effective for accounting periods beginning on or after | Jan. 1, 2022 |
Annual Improvements to IFRS Standards 2018-2020 Cycle [member] | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Effective for accounting periods beginning on or after | Jan. 1, 2022 |
Amendments to IAS 1, Classification of liabilities as current or non current [Member] | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Effective for accounting periods beginning on or after | Jan. 1, 2023 |
Amendments to IAS 1 and IFRS Practice Statement 2, Disclosure of accounting policies [Member] | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Effective for accounting periods beginning on or after | Jan. 1, 2023 |
Amendments to IAS 8, Definition of accounting estimates [Member] | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Effective for accounting periods beginning on or after | Jan. 1, 2023 |
Amendments to IAS 12, Deferred tax related to assets and liabilities arising from a single transaction [Member] | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Effective for accounting periods beginning on or after | Jan. 1, 2023 |
Possible impact of amendments_4
Possible impact of amendments, new standards and interpretations issued but not yet effective for the year ended December 31, 2021 - Additional Information (Detail) ¥ in Millions | Dec. 31, 2021CNY (¥) |
Disclosure of Expected Impact of Initial Application of New Standards or Interpretations [abstract] | |
Reclassification Of Convertible Bonds Current As Non current | ¥ 4,984 |
Balances with related compani_4
Balances with related companies - Additional Information (Detail) ¥ in Millions | Dec. 31, 2021CNY (¥) |
Disclosure of transactions between related parties [abstract] | |
Amounts due from associates | ¥ 183 |