UPDATE 1-China's biggest airlines reduce 70% of capacity in Feb as coronavirus bites [Reuters]
China Eastern Airlines Corporation Ltd. (CEA)
US:NYSE Investor Relations:
irasia.com/listco/hk/chinaeast/annual/index.htm
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Source: Reuters
UPDATE 1-China's biggest airlines reduce 70% of capacity in Feb as coronavirus bites (Adds figures from Air China, China Eastern Airlines) BEIJING, March 18 (Reuters) - China’s three biggest airlines reduced about 70% of their capacity in February, data showed on Wednesday, as they grappled with the plummeting demand caused by the coronavirus epidemic. China Southern Airlines and China Eastern Airlines each reported a 73% drop in February passenger capacity from a year earlier. Air China, the country’s flag carrier, cut about 68% of capacity. Passengers carried in February plunged more than 80% for all of the three airlines, while load factors for Air China and China Eastern came in better than China Southern at a touch above 50%. Load factor for China Southern in February was at 47.11%, representing a decrease of 38.11 percentage points. Both China Eastern and China Southern warned investors of the uncertain impact from coronavirus outbreak. All of them said they would further optimi
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