China’s airlines lose $216 million in one month

“Demand continues to slow and load factors continue to drop”

Airlines in China posted a collective net loss of CNY 1.37 billion ($216 million) for the month of May, a complete reversal of fortunes from their May 2011 net profit of CNY1.88 billion. The fast-deteriorating situation is being blamed not so much on high fuel prices but on a slowdown in domestic demand and exchange losses due to yuan depreciation.
However, (CAAC), the country’s airlines transported 25.4 million passengers during May, up 5.5% from last May, according to the Civil Aviation Administration of China.
“The growth rate of domestic market demand continues to slow and the passenger load factors also continue to drop, especially on international routes,” Ping An Securities aviation analyst Sun Chao explained.
ATW

x

Check Also

cruise, port, harbour, Oslo, Norway, halved, ships, turnaround, Per Erik Winther, manager, scandal, number, terminal, Royal Caribbean, build

Cruise visits to Oslo have halved. Why?

A former member of Oslo Cruise Network blames poor teamwork in Norway’s capital.

Bella, Copenhagen, center, mice, meetings, congress, 2018, biggest, Scandinavia, Denmark

Event kicks off big year for Bella Center

The almost 3,000 delegates now converging on Copenhagen are small fry compared to what’s coming.

Norway, winter, snow, mountains, avalanch risk, ski, sledding, weather, 2018

Ideal winter conditions in Scandinavia

It’s even possible to sunbathe in the mountains, a meteorologist claims.

Norwegian, Boeing 737-800, delivery, final, MAX, aircraft, type, low-cost, long-haul, flights

Norwegian’s last 737-800 delivery as MAX era starts

The airline takes delivery of its 100th direct-buy Boeing 737-800, an aircraft type that is already being replaced.

Nordica, Regional Jet, leasing, lessor, Estonia, LOT, Polish, Groningen, Tallinn

Estonian lessor expands its fleet

Regional Jet, founded by the national airlines of Estonia and Poland, will add two more planes to its fleet.

Norwegian Cruise Line, shipyard, NCL, Bliss, ship, build, launch, float out, Germany, sailings, mega-ship, karting, race track, Meyer Werft

First float-out for Norwegian Bliss

Norwegian Cruise Line’s new cruise mega-ship takes to the water ahead of its April launch.