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QINGDAO TODAY
在线翻译:
szdaily -> Business/Markets -> 
Aviation regulator supports airline mergers
    2020-02-13  08:53    Shenzhen Daily

THE country’s aviation regulator will support restructuring or mergers to help airlines cope with the coronavirus outbreak, it said yesterday, noting that the epidemic has hurt the bottom lines of many carriers.

The epidemic, which originated in the transportation hub city of Wuhan and quickly spread to the rest of China, has caused global airlines to cancel thousands of flights after dozen of countries imposed travel restrictions amid virus fears, dampening demand.

On Feb. 11, airlines cancelled 12,662 flights in China, according to aviation data provider Variflight.

The Civil Aviation Administration of China (CAAC) will continue to lobby authorities to subsidize airlines hurt by travel curbs due to the coronavirus, Xiong Jie, a CAAC spokesman, told a media briefing, adding that more fees would be waived for carriers.

The regulator will also support restructuring and mergers among airlines based on their needs, and support them to optimize capacity so they can weather the difficult time and win the battle against the virus, Xiong said.

Discussions of possible mergers have swirled since conglomerate HNA, which owns Hainan Airlines, started experiencing liquidity issues, said Chinese aviation expert Li Xiaojin. Li added that small airlines such as Lucky Air and Okay Airways were looking to get acquired.

Passenger traffic in China declined 5.3 percent in January from a year earlier, compared with a growth rate of 7.9 percent for 2019.(SD-Agencies)

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