BEIJING (dpa-AFX) - Air China Limited (AIRYY.PK), Friday announced a provision for asset impairment of RMB 198 million for the fiscal year 2024.
The move comes as the airline is committed to address the expected credit losses and asset devaluations.
The impairment provision includes RMB 143 million for fixed assets, RMB 13 million for inventory write-dowms, and RMB 42 million for credit impairments related to accounts receivable as well as other financial instruments.
Concurrently, the company announced its decision to change its auditors from Deloitte Touche Tohmatsu to KPMG for the financial year 2025.
Currently, Air China's stock is trading at $13.61, up 10.20 percent on the OTC Markets.
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