China may be recovering from the worst of its coronavirus outbreak but the gradual resumption of business and production has not helped domestic airlines make ends meet, reported Caixin.
This year, the country’s six listed mainland airlines had lost a combined RMB 22.3 billion ($3.14 billion) as of Tuesday, according to analysis by the NUAA-VariFlight Joint Research Centre for Transportation Big Data based on past financial reports.
The calculations included Air China, China Southern Airlines, China Eastern Airlines, Hainan Airlines, Spring Airlines, and Juneyao Airlines. The Civil Aviation Administration of China (CAAC) disclosed on March 12 that mainland flight volumes had only recovered to about 40% of their normal levels. About two-fifths of flights scheduled by China Eastern Airlines actually flew, while about half of those for Air China and China Southern Airlines did, according to VariFlight’s data