China's aviation industry suffers $4.9 billion loss in second quarter on coronavirus jolt

China's aviation industry sank further into the red, losing 34.25b yuan in Q2, only slightly narrower than in Q1, underlining the colossal financial impact from the coronavirus pandemic. In the first quarter the industry, which includes airlines, airports and other aviation companies, lost 38.1b yuan, according to data released by the CAAC on Friday. China's aviation industry has been recovering faster than most countries emerging from the COVID lockdowns, underpinned by a steady recovery in the domestic travel market after the epidemic was largely brought under control. But passenger numbers showed the sector is still way below pre-COVID-19 levels, according to the latest official data. June passenger numbers fell 42.4% from a year earlier to 30.74m, the CAAC said, although that was better than a 52.6% decline in May. In the first half this year, total passenger numbers dropped by 45.8% from a year ago.<br/>