Losses Blow Out at China’s Airlines as Passengers Dip to 12-Year Low

China’s civil aviation industry plunged deeper into the red in 2022 as Covid restrictions effectively shut down international travel and sent passenger numbers tumbling to a 12-year low with airlines racking up annual losses exceeding the previous two years combined.

However, there are hopes things may turn around quickly after the abandonment of the “zero-Covid” strategy last month, and the removal of quarantine-on-arrival on Jan. 8, with the Civil Aviation Administration of China (CAAC) saying it expects the industry to break even this year as it works to boost passenger numbers and flights.