China’s biggest airlines post loss on slow international return

China’s three biggest airline companies reported annual losses for 2023 as international traffic remained well below pre-pandemic levels. China Southern Airlines, the country’s largest carrier by number of planes and passengers, lost 4.2b yuan ($581m) in 2023, while Shanghai-based China Eastern Airlines reported a net loss of 8.17b yuan. Flagship carrier Air China also reported a 1.05b yuan net loss, according to stock exchange filings. Though losses significantly narrowed compared to 2022, China’s major carriers have continued to lose money since the start of the pandemic. The country has been among the slowest major aviation markets to recover from the pandemic with international travel well below 2019 levels and concerns about an oversupply in the domestic market. The three airlines didn’t provide detailed reasons for their losses. International travel for China’s three large carriers is due to grow to about 6,000 flights a week this year, 80% of pre-pandemic levels, according to data from the Civil Aviation Administration of China.<br/>