Home > > Travel recovery drags on in China; GDS giant expects losses in H1 | Daily Brief

Travel recovery drags on in China; GDS giant expects losses in H1 | Daily Brief

06/30/2020| 12:27:48 AM| ChinaTravelNews

Renewed limits on social activities have dampened the pace of recovery in China; China's dominant airline IT provider TravelSky said it may record losses for the first half of year.

China records another plunge in tourism revenue as recovery drags on

>> China’s struggle against the economic overhang of the coronavirus is far from over. Renewed limits on social activities have dampened the pace of recovery, as evident from the nearly 69% drop in tourism revenue during the three-day Dragon Boat Festival that officially ended Saturday. Roughly 48.81 million tourist trips during the holiday brought in revenue of RMB 12.28 billion (USD 1.73 billion), a drop of 68.8% from the RMB 39.33 billion last year, according to official data.

At least 14 airlines worldwide announce plans to resume flights to China

>> At least 14 international carriers have announced plans to resume air service in China as of June 27, according to a report of ThePaper.cn. The Shanghai-based news outlet compiled a list of global airlines with China flights starting in June or July. The list includes Air France, Delta Air Lines, Singapore Airlines, Lufthansa, United Airlines and All Nippon Airways.

Cathay Pacific opens more routes up to connect to the world

>> Hong Kong carrier Cathay Pacific is adding more routes back to its network, as it emerges from an awful few months The changes to the network from July will increase connectivity to China, North America, Asia, Australia and Europe. The schedules are subject to change, as countries adapt to their COVID-19 responses.

Major Chinese airlines take delivery of first ARJ21 aircraft

>> The three biggest airline companies in China, namely Air China, China Eastern and China Southern, have all taken delivery of their first COMAC ARJ21 aircraft as of June 28. Each of these small jets seat 90 passengers and signify China’s attempt to break into the regional commercial aviation market.

Chinese OTA regains compliance with Nasdaq's requirement

>> China-based leisure online travel company Tuniu said it received a letter from the Nasdaq Stock Market Inc. informing it that the company has regained compliance with the listing rules by keeping its share price above USD 1.0 for at least 10 consecutive business days. Tuniu has been listed on Nasdaq since 2014 and the company registered its highest share price at USD 24 in the same year. But the company's stock continued to plunge afterward. Tuniu has not been able to turn a profit for the past six years as a public company.

Chinese GDS giant expects losses in H1 2020

>> China's dominant airline IT provider TravelSky said that it sees significant declines in air passenger number due to the impact of coronavirus. Volume processed by the systems of international and regional commercial airlines dropped by more than 87% in January-May this year. The company projected that it may record losses for the first half of 2020.

TAGS: Daily Brief | TravelSky | Tuniu
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