HomeIndustriesAir Travel in China Rebounds Following Covid Infections

Air Travel in China Rebounds Following Covid Infections

Chinese air travel has resurged ahead of the Lunar new year despite worries of new infections. This comes after the Chinese government dialed back its zero-Covid policies, thus reopening the economy.

This change has seen a 63% recovery of air passenger volumes to 2019 levels. The Chinese transport ministry predicts a 99.5% jump in passenger traffic volumes in the year following the Lunar calendar, which translates to 70.3% of 2019 levels.

In Macau, the gambling hub of the country, 46,000 daily inbound travelers arrived on Friday; the highest tally since early 2020 when the pandemic emerged. The city expects a travel boom during the Spring Festival period.

Song Zhiyong, head of the Civil Aviation Administration of China, has cautioned that one such travel boom could have an adverse effect on the Chinese economy as rapid returns to travel are making it challenging for airline staff to ensure the safety of passengers, putting them at risk.

In addition to travel, cinemas have also seen a resurgence in attendance. Cinemas are expected to generate a revenue of 10 billion yuan ($1.5 billion) during the Spring Festival period.

Kroger and Albertsons to Sell More Stores in Attempts to Get Merger Approval

Kroger and Albertsons have announced plans to sell more stores in an attempt to get the green light for their $25 billion merger. Kroger reached...

Stocks Continue Slide as Israel-Iran Tension Ensues

Stocks on the New York Stock Exchange continued their drop-off on Friday as investor anxiety rose following Israel's retaliatory strike against Iran. Market composure...

United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2

Following a strong first-quarter earnings report, United Airlines saw its stock jump 14% on Wednesday. Investors were also intrigued by the company’s optimistic projections...