AERO TRADING GROUP Corp

China Southern announces proposed impairment of aircraft

China Southern announces proposed impairment of aircraft China Southern Airlines has announced in a stock exchange filing that due to “obsolescence of aircraft, discontinuation of models, high operating costs and other reasons”, the airline has made a provision for impairment of aircraft, spare engines, aviation equipment and long-term deferred expenses for the year of 2021 which amounts to RMB2.596 billion, and the provision for impairment of long-term deferred expenses amounted to RMB18 million. The action will increase in the impairment loss of assets to RMB2.614 billion, and an increase in the loss before tax to RMB2.614 billion.

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