BEIJING, Aug 30 — China’s leading state-owned airlines posted losses in the first half of the year, weighed down by a slower-than-expected international travel rebound,...
China’s top three airlines, Air China, China Southern Airlines and China Eastern Airlines last reported annual net profits in 2019 before the Covid-19 pandemic took hold. — AFP picBEIJING, Aug 30 — China’s leading state-owned airlines posted losses in the first half of the year, weighed down by a slower-than-expected international travel rebound, domestic oversupply and more intense competition as aviation capacity returns globally.
China Southern Airlines reported net losses of 1.23 billion yuan in the first half, narrowing from a 2.9 billion yuan loss a year earlier. The Guangzhou-based airline made a 760 million yuan profit in the first quarter. “As international routes are not resumed fully wide-body planes are used domestically, intensifying oversupply,” Air China said.
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