What is the service phone number of Qingqin Small Loan (manual telephone number () (transaction processing refund, cash withdrawal, cash withdrawal failure, transfer failure, refund failure, inquiry, recharge, recharge phone bill failure, fund freezing, Third-party services such as raising limits) all-day hourly services performed well in the first half of the year, but were affected by the decline in the central parity rate of the RMB against the U.S. dollar for two consecutive days, and the overall performance of airline stocks was poor. Following the overall decline on Tuesday, stocks closed yesterday , Hainan Airlines fell again, Air China fell, Geely Air fell, China Eastern Airlines fell, China Southern Airlines fell, only Spring Airlines bucked the trend and rose.
Behind the continuous decline in stock prices is the market's concern that the decline in the value of the RMB will affect the performance of listed airlines. . In this regard, several listed companies told reporters from Securities Daily that the impact of this round of decline in the value of the RMB on company performance cannot yet be determined, and it depends on the long-term trend of the exchange rate.
Assets and liabilities of airlines Basically, it is settled in foreign currency. For example, aviation fuel is usually purchased in U.S. dollars, and aircraft purchase and leasing costs are also settled in foreign currency, so this exchange rate change has a relatively large impact on airlines. Zhu Zhengyu, a senior analyst at Analysys Think Tank, said in an interview with a reporter from Securities Daily that the U.S. dollar liabilities of several major state-owned airlines are higher than their U.S. dollar assets. If the RMB continues to depreciate, the airlines' profit scale will decrease.
According to the annual financial report, due to the rapid growth of the three major shipping capacities in 2018, the debt scale of the major listed airlines has also increased. Among them, the share of Air China's US dollar loan interest liabilities has increased from The share of US dollar liabilities has increased from Planes and engines are paid for in U.S. dollars. But in fact, we also attach great importance to adjusting the structure of assets to avoid risks. In the past few years, we have often used various capital market tools to issue some RMB-denominated corporate bonds.
Spring Airlines spokesperson Zhang Wuan also told reporters that Spring Airlines’ own asset-liability ratio is relatively low among listed airlines, and its early allocation of U.S. dollar assets and U.S. dollar debt ratios was relatively moderate. Therefore, this round of RMB depreciation has a negative impact on the company. The impact is not too big.
Of course, the final impact of the exchange rate still depends on the end of this year. It is still only a temporary fluctuation. The impact of the exchange rate cannot be calculated until the statements at the end of this year are released.
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