HONG KONG -- China's big three state-owned airlines are lagging behind as domestic and Asian competitors dramatically improve their bottom lines following the end of COVID-19 travel restrictions.
China Southern Airlines, Air China and China Eastern Airlines recently logged total net losses of 13.3 billion yuan ($1.87 billion) for 2023, even though aggregate revenue jumped more than twofold on the year to 427.6 billion yuan as each one beat its pre-pandemic figure. All three have now posted net losses for four straight years.
