10 Jan 2022
Chinese Aviation Industry Gears Up for Increased Profits by Amping up Operations in 2022
The Index Today
China’s aviation industry is looking to generate profits this year following a string of pandemic-related losses that were further aggravated by the country’s current Zero-COVID policy.
The aviation regulator on Monday announced its intentions to regain 85% of its pre-pandemic domestic passenger volume with the Civil Aviation Administration of China (CAAC) suggesting an increase in passenger trips beyond 570 million in 2022. Additionally, 2023-2025 has been projected as the recovery period for international air travel.
The aviation industry has been facing a slew of losses since the onset of the COVID-19 pandemic in 2020 marked by a total loss of $5.1 billion among its prominent airline companies of China Eastern Airlines, China Southern Airlines, and Air China in Q1, Q2, and Q3 of 2021.
In a statement, the CAAC said, "Barring repeated fluctuations in COVID-19, we will strive to reverse losses and achieve profitability this year."
©Photo: south china morning post