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China Re-emerges,
Western Airlines Retreat — August 2024

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By mid-year the Chinese aviation markets had finally reopened, their recovery lagging the rest of the world. While domestic passenger traffic was about 10% above 2019, international passengers on Chinese airlines were still were about 30% below. Meanwhile, Western airlines have been reducing or eliminating their Chinese services, which have proved to be unsustainably loss-making.

CHINA: MONTHLY PASSENGER TRAFFIC v 2019 
Domestic International Regional 2020 2021 2022 2023 2024 0 20 40 60 80 100 120 140 Pct of 2019 Domestic International Regional
Source: CAAC. Note: Regional=Hong Kong, Macau, Taiwan.
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