News Snapshot:
China’s three largest airlines are expected to suffer heavy losses in the first half of this year, citing adverse impacts from the repeated Covid outbreaks and surging fuel prices. China Southern Airlines, Air China, and China Eastern Airlines are estimated to post combined losses of around $8 billion in the first six months of 2022. Among them, Air China is the biggest loser. According to Upstream News, all three major airlines on July 15 released preliminary data for the first half of 2022. The main reasons given for these airlines’ poor performance were that the domestic civil aviation industry had...
