Current location:politics >>
Chinese carriers cut losses in 2023, aim for return to profit this year
politics11People have gathered around
IntroductionThe Chinese aviation industry's performance improved in 2023, with losses falling amid rising demand ...
The Chinese aviation industry's performance improved in 2023, with losses falling amid rising demand, and the sector aims to get back into the black this year.
The industry's total losses fell by 187.2 billion yuan ($26.31 billion) last year, Song Zhiyong, head of the Civil Aviation Administration of China (CAAC), told a recent industry meeting.
Industry data showed that from 2020 to 2023, Chinese carriers lost more than 420 billion yuan. The industry-wide losses totaled 216 billion yuan in 2022 and 28.8 billion yuan in 2023, respectively.
The CAAC has set a goal of a return to the black for 2024, news outlet yicai.com reported on Tuesday.
China's huge domestic market with a population of 1.4 billion is the biggest source of potential for the industry to stop the bleeding, Qi Qi, an industry market analyst, told the Global Times on Tuesday.
Airlines could gain by increasing revenue, reducing expenditures and costs and increasing efficiency, Qi added.
Demand for the aviation sector is rising amid expanding consumption, new urbanization and rural revitalization, and domestic passenger traffic will continue to grow steadily, according to Song.
The CAAC predicted that domestic passenger traffic this year will reach 630 million trips, 7.7 percentage points higher than that in 2019, and a strong performance is likely during peak seasons such as the Spring Festival holidays, the summer travel peak and National Day holidays.
The CAAC said that in 2024, total transportation turnover, passenger volume and cargo volume are all expected to exceed the pre-epidemic levels. Year-on-year passenger growth is expected to grow by a double-digit rate.
Industry insiders said a return to profitability depends on how quickly international services resume.
The CAAC predicts that the international passenger transport market will accelerate its recovery, reaching about 6,000 flights per week by the end of 2024 - about 80 percent of the pre-epidemic level.
According to Flight Master, as of last week, international flight volumes had recovered to 64.9 percent of 2019 levels.
To increase demand, CAAC has asked carriers to increase international routes, especially for neighboring countries.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Stellar Station news portal”。http://kenya.downmusic.org/article-19e599970.html
Related articles
Young Boys seals 6th Swiss soccer league title in 7 years after rallying from firing coach Wicky
politicsGENEVA (AP) — Young Boys sealed its sixth Swiss league title in seven years by winning at Servette 1 ...
【politics】
Read moreChina highway collapse kills 19 in Guangdong
politicsBEIJING (AP) — A section of a highway collapsed early Wednesday in southern China leaving at least 1 ...
【politics】
Read moreColombia's president says thousands of grenades and bullets have gone missing from army bases
politicsBOGOTA, Colombia (AP) — Colombian President Gustavo Petro said Tuesday that hundreds of thousands of ...
【politics】
Read more
Popular articles
- ‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad
- More than 50 injured after Los Angeles Metro train collides with USC bus
- Premier League & NBC Sports execs in talks to potentially hold 39th league fixture in the US
- The amazing view... from the best seat on the train! Fascinating driver's
- Insider Q&A: CIA's chief technologist's cautious embrace of generative AI
- DJ Stewart hits a 3
Latest articles
A warrant for Netanyahu’s arrest was requested. But no decision was made about whether to issue it
Emerging trends for upcoming May Day holiday
Raúl Ruidíaz scores two goals and the Sounders beat the Union 3
ROBERT HARDMAN: When Charles wears his T
Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
Mitch Marsh to lead Australia at cricket's Twenty20 World Cup. Steve Smith misses selection
LINKS
- House leaders toil to advance Ukraine and Israel aid. But threats to oust speaker grow
- Argentina launches bid to join forces with NATO: Chainsaw
- Kraken outlast Wild 4
- Netflix adaptation of The Talented Mr. Ripley fuels tourism to tiny Italian town
- Finding an apartment may be easier for California pet owners under new legislation
- Jets beat Canucks 4
- New York man Craig Ross Jr is sentenced to 47 years to life for sexually assaulting nine
- US envoy to UN visits Nagasaki A
- Was Charlie Chaplin's grave once robbed?
- AP Week in Pictures: Europe and Africa