Current location:International Interactions news portal > travel
Chinese carriers cut losses in 2023, aim for return to profit this year
International Interactions news portal2024-04-30 11:40:54【travel】7People 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.
Address of this article:http://www.triple-v.org/news-64b099870.html
Very good!(3363)
Related articles
- China's scientific research activities in relevant waters for peaceful purposes
- Japanese astronaut to be first non
- Georgia Steel risks an awkward run
- Outrage as Tesla starts shipping $3,000 Cybertruck tent that looks nothing like as advertised
- China Coast Guard stops four Philippine individuals from intruding into Huangyan Island
- Podcast pick: The best audio show to listen to now
- Enjoy last night's solar eclipse? How to tell if it could have PERMANENTLY damaged your eyes
- Woman's rare disease causes 20
- One year of war in Sudan, thousands killed, millions displaced amid imminent famine
- Missed the 2024 solar eclipse? Here's when and where you can see the next one
Popular articles
Recommended
Feature: Remote Ugandan villages visualize better future with Chinese oil works in backyard
Nasa vs Nessie: Space agency asked to assist new hunt...
What's behind first China
Fin Affleck's close friendship with JLo's child Emme Maribel Munniz, 16
There's spring in real estate recovery
Seabed mining critics furious after company pulls out of hearings
How to tell if you have the sleep disorder that even doctors don't know about
How Lulu still looks fabulous at 75, from her skincare 'golden rule' to refusing to take lifts
Links
- Coronavirus toll reaches 490 in China
- Literacy, numeracy tests as NCEA requirement 'detrimental' to learners
- Israeli hostages' relatives arrested at protest as Gaza talks break down
- More than 13,000 children killed in Gaza in Israel offensive
- US call at UN for Gaza truce linked to hostages blocked
- Dunedin council takes Aurora Energy proposal public
- Free lunch scheme has made 'huge difference' for Wainuiomata school
- UN Security Council passes resolution calling for Gaza ceasefire
- Old commuter carriages blighting Taumarunui scrapped after years of decay
- UN mission probing Islamic State crimes forced to shut in Iraq