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Hits:Updated:2022-11-11 14:11:58【Print】
Air China, China Eastern Airlines and China Southern Airlines posted combined losses of more than 70 billion yuan in the first three quarters of this year, according to their latest financial statements, chinanews.com reported.
Air China achieved operating revenue of about 42.089 billion yuan and net profit loss of about 28.103 billion yuan.
China Eastern achieved operating revenue of 35.85 billion yuan and net profit loss of 28.116 billion yuan.
China Southern posted a revenue of about 70.161 billion yuan and a net profit loss of about 17.587 billion yuan.
China Eastern Airlines said the decline in operating performance was mainly due to the impact of the COVID-19 pandemic, reduced passenger demand and overall capacity, high jet fuel prices, a significant increase in jet fuel costs compared to the same period last year, and foreign exchange losses caused by the depreciation of the renminbi.
China Merchants Securities analysts said that by observing the aviation market since the outbreak, we can see the strong resilience of domestic demand.
Once the epidemic eases, the recovery of domestic demand will be very fast, and it is expected that the domestic market will recover quickly after next spring.
China Southern, the largest carrier in the domestic market, has benefited more from the recovery of domestic routes.
 Separately, China is discussing whether to relax or end the circuit breaker mechanism for international passenger flights, as well as whether to relax mandatory quarantine restrictions on inbound passengers and shorten the required number of days of centralized quarantine and subsequent home observation, the Wall Street Journal reported, citing Bloomberg News.   Bloomberg reported that according to sources, the new measure under discussion would reduce the 10-day quarantine period to seven days, making it a two-plus-five arrangement that would require travelers to stay quarantined in designated hotels for the first two days and stay at home for the remaining five days.  The official wechat account of CAAC, the official website of the Civil Aviation Administration of China, also published an article titled "Many Airlines Announced to resume and increase flights of many international and domestic routes during the winter and Spring flight season".  The article points out that since the start of the 2022-2023 winter/Spring flight season on October 30, 2022, a number of airlines have implemented the deployment of regular international passenger flights gradually and steadily, formulated flight recovery plans, and resumed and increased flights on a number of international routes. |
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