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China's aviation industry suffers economic loss

China's aviation industry suffers economic loss

In the first half this year, total passenger numbers dropped by 45.8 percent from a year ago.
10.07.2020 - 12:28

China’s aviation industry lost 34.25 billion yuan ($4.89 billion) in the second quarter, only slightly narrower than in the first quarter, underlining the colossal financial impact from the coronavirus pandemic.

AIRLINE COMPANIES HAVE ANNOUNCED DISCOUNTS IN DOMESTIC FLIGHTS

In the first quarter the industry, which includes airlines, airports and other aviation companies, lost 38.1 billion yuan, according to data released by the Civil Aviation Administration of China (CAAC) on Friday.

China’s aviation industry has been recovering faster than most countries emerging from the lockdowns, underpinned by a steady recovery in the domestic travel market after the epidemic was largely brought under control.

But passenger numbers showed the sector is still way below, according to the latest official data. June passenger numbers fell 42.4% from a year earlier to 30.74 million, the CAAC said, although that was better than a 52.6% decline in May.

A few Chinese airlines have recently rolled out discount passes that would allow passengers unlimited domestic travel with few restrictions.