China’s top airlines post steep Q2 2022 losses

China’s three biggest airlines posted a combined RMB 28.4 billion (USD 4.12 billion) second-quarter loss, wider than in the first quarter, due to major travel disruptions including a strict COVID-related lockdown in Shanghai.

Shanghai-based China Eastern Airlines, said its net loss reached RMB 10.9 billion in the quarter, higher than the RMB 7.8 billion loss in the first quarter, and the highest among the three, mainly due to lockdowns in its home city.

Beijing-based Air China Ltd, the country’s flag carrier, reported a second-quarter loss of RMB 10.5 billion, wider than a loss of RMB 8.9 billion in the first quarter when a strict travel policy was in place for the Winter Olympics.

China Southern Airlines posted a second-quarter loss of RMB 7.0 billion, up from RMB 4.5 billion in the first quarter.

Total losses of the three leading airlines in the country amounted to nearly RMB 50 billion in the first half, far exceeding a total half-year loss of RMB 16.7 billion in the same period last year.