Caixin
Mar 22, 2022 08:23 PM
BUSINESS

Chinese Airline Industry Reels After Guangxi Crash

Search and rescue workers look for plane debris at the crash site in Tengxian county, Guangxi Zhuang autonomous region, on March 21. Photo: Xinhua
Search and rescue workers look for plane debris at the crash site in Tengxian county, Guangxi Zhuang autonomous region, on March 21. Photo: Xinhua

Chinese airlines’ stock prices fell Tuesday morning after a China Eastern Airlines Corp. Ltd. (600115.SH) passenger flight mysteriously crashed the day before, as the potential grounding of over 1,000 Boeing jets further dimmed the outlook for the beleaguered sector.

In Hong Kong, China Eastern shares fell 5.82% to HK$2.59 ($0.33), and the other two of the big three Chinese carriers — Air China Ltd. and China Southern Airlines Co. Ltd. — declined by 1.25% and 0.45%, respectively.

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