Air China - passenger traffic decreased by 70.7%19 Apr 2022 11:56
China GOV say growth forecasts are still around 5%, but others are saying that some indicators show a much gloomier picture. The extract below is from an Air China RNS, which paints a bleak picture:
"Passenger capacity (measured by available seat kilometers (the "ASK")) recorded a year-on-year decrease of 63.3% and a month-on-month decrease of 44.6%. Passenger traffic recorded a year-on-year decrease of 70.1% and a month-on-month decrease of 49.2%. Among which, for domestic routes, passenger capacity decreased by 64.7% year on year and decreased by 45.5% month on month, and passenger traffic decreased by 70.7% year on year and decreased by 49.8% month on month. For international routes, passenger capacity decreased by 20.4% and 20.6% as compared to the same period last year and the previous month, respectively, and passenger traffic decreased by 41.2% and increased by 20.1% as compared to the same period last year and the previous month, respectively."
A 70% decrease in passenger traffic looks more like an economic contraction, not growth of 5%.