China's Big Three Airlines' Earnings May Soar as Headwinds Ease -- Market Talk

Dow Jones01-18

0627 GMT - For major Chinese airlines, 2024 could be a year of record profits as oil and yuan-depreciation headwinds fade and international routes are restored, HSBC Global Research says in a note. With almost no layoffs in the past four years, China's big three airlines can ramp up international flights quickly, the team says. It expects the international capacity of Air China, China Eastern Airlines and China Southern Airlines to almost return to prepandemic levels this year, citing easing bottlenecks such as visa policies and air-rights negotiations. The big three airlines could deliver a combined annual profit of CNY20.41 billion, swinging from a total estimated loss of CNY4.57 billion for 2023, HSBC says. (farah.elias@wsj.com)

(END) Dow Jones Newswires

January 18, 2024 01:27 ET (06:27 GMT)

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