China's major airlines suffer steepest loss since global financial crisis

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China’s three largest airlines posted their steepest quarterly losses since the global financial crisis as travel demand was ravaged by the lockdown imposed to contain the spread of the coronavirus.

Air China, China Southern Airlines and China Eastern Airlines reported combined losses of 14 billion yuan in the three months ended March, deteriorating from 7.4 billion yuan of profits a year earlier, according to results published late Wednesday.

Air China, the nation’s flag carrier, posted a first-quarter loss of 4.81 billion yuan, reversing from a profit of 2.72 billion . . .

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