Spring Airlines Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	23,190	21,096	19,533	17,576	8,195	10,640
Other Revenue	301.35	363.92	466.89	362.14	173.61	218.05
Revenue	23,491	21,460	20,000	17,938	8,369	10,858
Revenue Growth	14.99%	7.30%	11.50%	114.34%	-22.92%	15.85%
Cost of Revenue	20,724	18,544	17,412	15,519	11,590	11,331
Gross Profit	2,767	2,915	2,588	2,419	-3,221	-472.7
Selling, General & Admin	570.57	560.34	521.72	468.71	367.97	422.53
Research & Development	170.78	163.76	160.63	144.18	122.31	119.39
Other Operating Expenses	-1,104	-1,113	-1,013	-1,047	-755.3	-1,122
Operating Expenses	-361.9	-387.84	-328.34	-432.87	-263.98	-577.2
Operating Income	3,129	3,303	2,916	2,852	-2,957	104.5
Interest Expense	-485.8	-485.85	-534.56	-643.96	-663.17	-553.2
Interest & Investment Income	163.14	210.33	268.86	363.33	171.61	204.61
Currency Exchange Gain (Loss)	7.51	-20.4	6.14	24.84	-126.49	68.63
Other Non Operating Income (Expenses)	-18.55	-11.91	-7.63	-5.88	-4.31	-7.04
EBT Excluding Unusual Items	2,796	2,995	2,649	2,590	-3,580	-182.49
Gain (Loss) on Sale of Investments	0.23	0.46	1.45	-41.19	17.1	-2.97
Gain (Loss) on Sale of Assets	-	-	-1.13	2.83	-	2.15
Asset Writedown	-14.85	-14.85	-2.98	-	-	-
Other Unusual Items	70.83	49.26	7.29	90.02	163.89	199.34
Pretax Income	2,852	3,030	2,653	2,642	-3,399	16.03
Income Tax Expense	660.7	712.85	380.5	384.58	-362.95	-21.26
Earnings From Continuing Operations	2,191	2,317	2,273	2,257	-3,036	37.29
Minority Interest in Earnings	-	-	-	-	-	1.83
Net Income	2,191	2,317	2,273	2,257	-3,036	39.11
Net Income to Common	2,191	2,317	2,273	2,257	-3,036	39.11
Net Income Growth	5.29%	1.96%	0.69%	-	-	-
Shares Outstanding (Basic)	968	973	977	977	920	978
Shares Outstanding (Diluted)	968	973	977	977	920	978
Shares Change	-0.60%	-0.40%	-0.06%	6.22%	-5.90%	6.35%
EPS (Basic)	2.26	2.38	2.33	2.31	-3.30	0.04
EPS (Diluted)	2.26	2.38	2.33	2.31	-3.30	0.04
EPS Growth	5.83%	2.28%	0.74%	-	-	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Free Cash Flow	-779.81	291.61	-1,319	3,489	-4,134	-4,517
Free Cash Flow Per Share	-0.81	0.30	-1.35	3.57	-4.49	-4.62
Dividend Per Share	0.860	0.960	0.820	0.700	-	-
Dividend Growth	-31.20%	17.07%	17.14%	-	-	-
Gross Margin	11.78%	13.58%	12.94%	13.49%	-38.49%	-4.35%
Operating Margin	13.32%	15.39%	14.58%	15.90%	-35.34%	0.96%
Profit Margin	9.33%	10.80%	11.37%	12.58%	-36.27%	0.36%
Free Cash Flow Margin	-3.32%	1.36%	-6.59%	19.45%	-49.40%	-41.60%
EBITDA	5,635	5,514	4,776	4,261	-1,698	1,212
EBITDA Margin	23.99%	25.70%	23.88%	23.76%	-20.29%	11.16%
D&A For EBITDA	2,505	2,211	1,860	1,409	1,259	1,108
EBIT	3,129	3,303	2,916	2,852	-2,957	104.5
EBIT Margin	13.32%	15.39%	14.58%	15.90%	-35.34%	0.96%
Effective Tax Rate	23.17%	23.52%	14.34%	14.56%	-	-
Revenue as Reported	2,032	-	-	-	-	10,858
Advertising Expenses	-	-	-	-	-	10.13