In the wake of various factors including the COVID-19 pandemic, China’s civil aviation industry has suffered losses for four consecutive years, amounting to nearly 430 billion yuan, wiping out all profits accumulated over the past decade. During this period of substantial losses, both the number of flights and passenger volume have sharply declined, while the introduction of new aircraft has continued to increase, resulting in more capacity than passengers. Industry analysts believe that the growth period of the civil aviation sector is over.
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China’s Aviation Loses 430 Billion Yuan in 4 Years, Erasing a Decade’s Profits, Ending Rapid Growth
