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Economy

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

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