BUSINESS China's aviation industry posts hefty losses amid epidemic

BUSINESS

China's aviation industry posts hefty losses amid epidemic

Xinhua

22:23, March 12, 2020

BEIJING, March 12 (Xinhua) -- China's civil aviation industry bore the brunt of the novel coronavirus disease (COVID-19), as it suffered major losses in February, the biggest in a single month.

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File photo: CGTN

The aviation sector registered losses of 24.59 billion yuan (about 3.53 billion U.S. dollars) last month, Zhang Qing, an official with the Civil Aviation Administration of China (CAAC), told an online press conference Thursday.

The total air transport turnover last month tumbled 73.9 percent year on year to 2.52 billion tonne-km, while the passenger throughput stood at 8.34 million trips, plummeting 84.5 percent from the same period last year.

Cargo and mail throughput stood at 297,000 tonnes, down 21 percent on a year-on-year basis.

Civil aviation authorities will pay close attention to the ongoing epidemic and ensure the implementation of preferential policies in a bid to cushion the blow of the epidemic on the air transport industry, said Zhang.

China has rolled out a slew of fiscal policies, including tax relief to reduce business risks faced by enterprises in this sector, according to the administration.


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