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China financially supporting struggling airlines
Thursday, 30 May, 2022
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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
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