China’s aviation industry continued suffering from the fallout of the Covid-19 pandemic with net losses extending into the third quarter, although reviving domestic business helped some companies return to the black, reported Caixin.
The six largest listed airline companies in China reported a combined net loss of RMB 42.9 billion ($6.4 billion) for the first nine months this year, extending the RMB 39 billion net loss of the first half, company financial reports showed.
But combined losses narrowed in the third quarter as the waning outbreak enabled domestic business to revive. China Southern Airlines returned to the black in the third quarter with net profit of RMB 700 million as did Juneyao Air with net income of RMB 190 million and Spring Airlines with RMB 260 million, according to the companies.
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