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A combined loss, meaning the total deficit across multiple carriers pooled into a single figure, of more than $1 billion hit China's largest airlines in the first half of the year. Rising fuel costs drove the shortfall.
The combined figure is a sum of individual results. China's biggest carriers each file interim reports covering the first six months, and when those separate losses are added together, the total crossed $1 billion.
The individual carriers are not named in available reporting, and no breakdown of each airline's share has been published. Fuel is the mechanism the data points to.
Airlines pay for it on every flight they operate, and the cost scales directly with how much the carrier flies. Aviation fuel, unlike some operating expenses, cannot easily be substituted or deferred.
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