Chinese airlines report 33.62b yuan loss in Q1 as virus erodes travel demand

[BEIJING] Chinese airlines reported a total loss of 33.62 billion yuan (S$6.74 billion) in the first quarter as the coronavirus pandemic hit travel demand, the aviation regulator said on Wednesday.

In February, the airlines suffered a record loss of 20.96 billion yuan as large parts of the country remained on lockdown amid efforts to curb the spread of the virus.

The total number of passengers fell 71.7 per cent in March from a year earlier to 15.13 million, Xiong Jie, an official with Civil Aviation Administration of China, told a press conference, adding the gauge was down 53.9 per cent in the first quarter.

REUTERS