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China financially supporting struggling airlines

Monday, 30 May 20223 min read
China financially supporting struggling airlines

China will offer financial support to domestic airlines for the next two months. Airlines can receive24,000 Yuan (about $3,500) per hour for loss-making flights, the finance ministry said.

Cash support is based on the average load factors when below 75% and the average daily numbers of domestic flights.

Domestic passenger traffic has fallen sharply during the series of lockdowns in cities such as Shanghai. Airlines suffered a combined loss of 67.09 billion Yuan last year