News
China’s “Big Three” airlines back in the black
October 30th 2023
The Mainland’s Air China, China Eastern Airlines and China Southern Airlines have posted their first quarterly profits since the onset of the COVID-19 pandemic in January 2020. Read More » Buoyed by a recovery in domestic travel, China Eastern Airlines (CEA) has reported a net profit of 3.6 billion yuan (US$494 million) for the three months to September 30 against a net loss of 9.4 billion yuan in the same months a year ago. Similarly, China Southern Airlines (CSA) booked a 4.2 billion yuan profit, a near 10 billion yuan turnaround from a previous 6.1 billion yuan net loss. Rounding out the “Big Three” results was Air China, which has announced a net profit of 4.2 billion yuan for the quarter compared with an 8.7 billion yuan net loss a year ago. Mainland domestic passenger traffic has exceeded pre-pandemic numbers, but international air traffic is recovering more slowly.
