The worse is yet to come as Trip.com Group projected net revenue to drop by 67%-77% in Q2; TravelSky sells a stake in its consumer-facing app to China Southern Airlines.
Trip.com Group posted a 62% drop in accommodation and a 29% decrease in transportation; Global travel disruptions are the top concern for American businesses in China.
International transportation accounts for 50% of Trip.com Group's total transportation revenue, so transportation will be more vulnerable to the COVID-19 impact than hotels will.
Throughout March and April, air travel continued to pick up slowly until it received a fillip from the Labor Day holiday at the start of May.
CAAC is allowing domestic and foreign airlines to apply for “green channels” for chartered flights to China.
TravelSky wants to explore monetization for the Umetrip app; China plans to allow chartered passenger flights from eight countries as it loosens restrictions on inbound travel.
The state-controlled giant is taking a step to better adjust to the market-based economy and explore monetization for its app unit.
The number would be increased to 407 a week from June 1.
ChinaTravelNews is a wholly owned subsidiary of
©2020 TravelDaily Inc.