Big Three Chinese Airlines Lost $2 Billion as Virus Kills Travel

Watch: Aviation consultant Brendan Sobie discusses earnings for China’s big three airlines amid the coronavirus pandemic and his outlook for the sector.(Source: Bloomberg)

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Harry Suhartono and Anurag Kotoky

April 29, 2020 at 1:16 PM UTC

This article is for subscribers only.

The big three state-run Chinese airlines reported a slump in earnings in the first quarter as the coronavirus upended travel demand, but there are signs the worst of the crisis is over for them.

China Southern Airlines Co. and China Eastern Airlines Corp. lost 5.3 billion yuan ($750 million) and 3.9 billion yuan, respectively, in the three Months ended March 31. Air China Ltd. posted a loss of 4.8 billion yuan for the period.