China's top airlines post wider losses on COVID-19 resurgence

China's three biggest airlines on Friday posted wider third-quarter losses than in the previous quarter as a resurgence of local COVID-19 cases drove a sharp decline in domestic travel and international borders remained closed. The losses highlighted one of the consequences of the country's policy of seeking to eliminate COVID-19 within its borders. Each time there is an outbreak, flight numbers fall sharply before rebounding once cases are controlled. The fourth quarter is facing similar though so far less severe issues. This week's scheduled airline capacity in China is 4.8% lower than last week because of minor outbreaks, according to data firm OAG. Beijing-based Air China said its net loss attributable to shareholders rose to 3.5b yuan ($547m) in Q3 from 578m yuan in Q2, taking the nine-month net loss to 10.3b yuan.<br/>