USD 22 Billion in Emergency Loans for Aviation
Chinese aviation has been given a much-needed boost with the announcement of a stimulus package of 150 billion yuan (USD 22.4 billion), with a further 200 billion yuan in bonds. The announcement follows a major speech by Premier Li Keqiang on 25th May which addressed concerns that the Chinese economy may not meet its target of 5.5% growth this year. Among many other drivers of the economy, Premier Li recognised the impact that the loss of international air services is having on business and trade.
Behind the Airline Capacity Headlines
Over the past two and a half years, OAG has been watching and reporting on scheduled airline capacity in China. By the third quarter of 2020 and for much of last year, despite having closed its borders to international travellers, the industry appeared to be relatively buoyant on the back of the sizable domestic market. Last summer airlines were providing even more capacity in the domestic market than…