China’s three largest airlines reported narrower loss in Q1 as travel demand picked up
STOCKS
China’s three largest airlines reported narrower loss in Q1 as travel demand picked up
STOCKS

China’s three largest airlines reported narrower loss in Q1 as travel demand picked up

 

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China’s three largest airlines reported narrower losses in the first quarter, with domestic and international travel picking up after relaxation of COVID restrictions at the end of last year.

China Eastern Airlines, China’s no. 3 carrier by revenue, saw its first-quarter loss narrow to 3.8 billion yuan from 9.3 billion yuan in the last quarter of 2022.

China Southern Airlines, reported a 1.9 billion yuan net loss in the first quarter, compared to a staggering 15.1 billion yuan loss in the last quarter of 2022.

China’s flagship carrier Air China reduced its first-quarter loss to 2.9 billion yuan from 10.5 billion yuan in the previous three months.