Chinese airlines predict losses of 103 bn yuan for 2022

The three big airlines in China have predicted losses of over $14.8 bn for 2022 due to pandemic, high fuel prices and depreciation of the yuan against the US dollar. Air China predicted that the loss would be around 37 to 39.7 billion yuan, followed by China Eastern Airlines’ loss of 36 to 39 billion yuan, and China Southern Airlines’ loss of 30 to 33.2 billion yuan for 2022. These figures would bring the total losses for last year to 103 billion yuan which is 1.5 times higher than that of 2021. Citing obvious reasons for the losses, the airlines