China Slams the Door on ‘1 Yuan Airfares’ Spawned by the Pandemic

China’s top state assets administration imposed minimum prices for tickets on seven state-owned airlines, slamming the door on ultra-low-cost promotions launched as travel plunged during the pandemic, Caixin learned from several airlines.

The State Assets Supervision and Administration Commission (SASAC) told airlines not to sell tickets on main routes for less than 60% of full price. While Caixin didn’t find an official document on the SASAC website, the airlines confirmed receiving verbal notice of the policy.