Chinese Airlines Profitability Improves as Travel Takes Off

What’s new: Chinese airlines reported an improved performance in the first quarter as the passenger transport business continued its revival.

China Southern Airlines Co. Ltd. (600029.SH) became the first among the big three state-owned airlines to return to profit since the pandemic, posting a first-quarter net profit of 756 million yuan ($104 million), compared with a net loss of 1.9 billion yuan ($262 million) in the same period last year. Both Air China Ltd. (601111.SH) and China Eastern Airlines Corp. Ltd. (600115.SH) have also seen their losses narrow.