Sydney Airport (SYD) says seven Chinese airlines will operate 48 weekly services to the airport from mainland China in July, as the Chinese economy recovers.
Shandong Airlines’ financials will appear in Air China’s consolidated financials after the flag carrier increased its stake in the Jinan-based airline.
The big three Chinese airlines' order for a combined 292 narrowbodies comes after the backlog of deliveries to the country had been getting smaller and smaller.
Rising fuel costs and closed borders are keeping China’s national carriers—Air China, China Southern Airlines and China Eastern Airlines—under pressure and, despite increases in passenger revenue, all three saw their losses widen in 2021.
The US Transportation Department said China’s cancellation of 44 flights operated by US airlines is inconsistent with the US-China air services accord.
An order has been issued to limit passenger capacity to 40% on four routes to the US in retaliation to sanctions imposed by China’s government on United Airlines.
Air China and China Eastern Airlines both remained in the red for all four quarters of 2020, racking up annual net losses of CNY14.4 billion (£2.2 billion) and CNY11.8 billion respectively.
