On November 2, the Ministry of Finance and the Civil Aviation Administration issued a notice on adjusting the financial subsidy policy for domestic passenger flights and doing a good job in liquidation, and no longer regard the flight number below or equal to 4,500 flights as a condition for starting subsidy. Subsidy funds are required to improve safety service capabilities and make up for flight operation losses.
China Airlines , Air China, and China Eastern Airlines three major airlines occupy half of the domestic aviation market. According to the latest financial report data, the three major airlines had a total net loss of 24.147 billion yuan in the third quarter of 2022. Based on 90 days, it is equivalent to an average daily loss of 268 million yuan, of which China Eastern Airlines suffered the largest loss, equivalent to a daily loss of over 100 million yuan. In the first three quarters of this year, the three major airlines had a cumulative loss of 73.8 billion yuan, exceeding the total losses for the whole year last year.
The three major airlines suffered losses of more than 70 billion yuan in the first three quarters
In the third quarter of 2022, the total revenue of the three major airlines was 63.976 billion yuan, a year-on-year decrease of 0.82%. Affected by factors such as the spread of the epidemic, the rising price of air fuel , and the fluctuation of exchange rate , the net losses of China Southern Airlines, Air China and China Eastern Airlines were 6.099 billion yuan, 8.668 billion yuan and 9.38 billion yuan respectively, with the losses increasing by 326.21%, 145.16% and 217.54% year-on-year respectively.
After the cumulative period of the first three quarters, China Southern Airlines, Air China and China Eastern Airlines had net losses of 17.587 billion yuan, 28.103 billion yuan and 28.116 billion yuan respectively, with losses increasing by 187.42%, 172.26%, and 244.47% year-on-year respectively. The three airlines had a total loss of 73.8 billion yuan, which has exceeded the annual loss of 41 billion yuan last year, equivalent to an average daily loss of 273 million yuan.
The civil aviation industry recovered in the third quarter higher than the second quarter
However, compared with the second quarter, the performance of the three major airlines has a certain recovery trend. The revenue of the three major airlines increased by 72.58% month-on-month in the third quarter, and their net losses narrowed, down 4.356 billion yuan compared with the second quarter.
According to the press conference held by the Civil Aviation Administration on October 26, the recovery of major transportation indicators in the civil aviation industry in the third quarter was higher than that in the second quarter, but there were still obvious fluctuations between the months.
data shows that the total transportation turnover, passenger transport volume, and cargo and mail transport volume of the entire industry were 17.79 billion tons, 86.397 million passengers and 1.56 million tons, respectively, a year-on-year decrease of 12.9%, 19.7% and 9.0%, respectively, and the transportation scale recovered to 52.6%, 49.3% and 80.6% in the same period in 2019, an increase of 14.4, 23.2 and 1.1 percentage points respectively compared with the second quarter.
Among them, passenger and freight transportation on international routes performed more outstandingly. With the orderly recovery of international passenger flights, the passenger transport volume of international routes has rebounded significantly. In the third quarter, the total number of passenger transport volumes of international routes completed 537,000, an increase of 73.3% from the second quarter and a growth of 36.3% from the same period last year. The demand for cargo and mail transportation on international routes remained at a high level. In the third quarter, the total cargo and mail transportation volume was 639,000 tons, and the scale of cargo on international routes was equivalent to 104.3% of the same period in 2019.
International passenger flights in the winter and spring season doubled year-on-year
Since last month, many airlines have released plans for the new flight season, and have generally announced the resumption, addition or encryption of multiple international routes. Under the repeated impact of the epidemic, the operating pressure of the civil aviation industry remains, but the industry still has expectations for the recovery of aviation.
According to the Civil Aviation Administration, China Civil Aviation will implement the 2022/23 winter and spring flight season flight plan from October 30, 2022 to March 25, 2023.
In terms of domestic (excluding Hong Kong, Macao and Taiwan), 54 domestic airlines schedule 95,173 passenger and cargo flights per week, an increase of 2.31% year-on-year compared with the 2021/22 winter and spring flight season. In terms of international flights, domestic and foreign airlines arrange 840 passenger flights per week, which is 420 round-trip flights, an increase of 105.9% year-on-year compared with the 2021/22 winter and spring flight season; 6,148 cargo flights (including passenger and cargo) are arranged every week, an increase of 6.7% year-on-year compared with the 2021/22 winter and spring flight season.
Produced by: Nandu Big Data Research Institute
Data collection: Lin Xinxin
Design: Zhang Bo
Data source: Ministry of Finance, Civil Aviation Administration, financial reports of various airlines
