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News on the Aviation Industry in China

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HNA Group flies into a turbulent financial reality
Feb 5, 2021 (WiC 527)

“For over a hundred years, when did the Chinese have the power to decide anything?” Chen Feng asked an audience at Harvard five years ago (see WiC346). “Now, finally, I have the opportunity to decide.” As the founder of HNA Group, Chen ...

Carrying the load

China’s cargo carriers eye freight rate profits
Nov 20, 2020 (WiC 519)

In more typical times Cathay Pacific’s cargo numbers for October would be chastening. A drop of nearly 38% in tonnage terms versus the same period last year is pretty catastrophic, in fact. But perhaps the Hong Kong carrier could be forgiven ...

Flying into the storm

New Hong Kong airline launch looks contrarian
Oct 30, 2020 (WiC 516)

Is it madness or a masterstroke? Aviation insiders hold different views on the plan for Greater Bay Airlines to become Hong Kong’s newest carrier next year. In one camp: those who see any attempt at starting an airline amid the worst ...

Flight to safety

Hamstrung Cathay Pacific bailed out by the Hong Kong government
Jun 12, 2020 (WiC 499)

Hong Kong’s $5 billion government-led rescue of its local carrier Cathay Pacific is the deal that nobody wanted, but no one could refuse. On Tuesday the government said it would be stumping up most of the cash in an emergency bailout of the ...

Saving, not spending

Don’t count on ‘revenge spending’ to get the economy going again
May 8, 2020 (WiC 494)

The combination of a record-breaking day for French fashion house Hermès, news of Tesla’s best Chinese sales in the month of March, and reports of a mini-boom in multi-million-dollar property sales have spurred talk of a revival in consumer ...

Destination unknown

More flights in China, but only on domestic routes
May 8, 2020 (WiC 494)

Warren Buffett called time on the airline world last weekend after dumping his stakes in the four major carriers in the United States at a heavy loss. His warning is that the aviation sector may never be the same again. The veteran investor ...

General Electric gets approval for engine sales to China’s Comac
Apr 17, 2020 (WiC 491)

Customers have called a halt on more than 300 orders for new aircraft so far this year, Boeing revealed this week, with 150 cancellations for its troubled 737 Max series in March alone. Airbus is wrestling with a similar crisis: half of the ...

Hard landing in Hainan

The Covid-19 crisis is pushing HNA Group towards a bigger bailout
Mar 5, 2020 (WiC 485)

The year 2019 brought positive headlines for the Chinese bond market. It marked the first-time sovereign bonds and policy bank debt were included in global indices. The international rating agencies were given licences to operate independently in ...

Taking a nosedive

Coronavirus hits Chinese airlines but HNA is suffering the most
Feb 21, 2020 (WiC 483)

Back in 2005, when China’s commercial airline industry was developing rapidly, planes were taking off faster than the country could train new pilots. To that end, Chinese carriers paid generous salaries to foreign pilots to keep their aircraft ...

Seoul searching

Why Chinese airlines are poaching Korean pilots
Nov 8, 2019 (WiC 473)

When Yang Liwei became China’s first astronaut in 2003 he was hailed as a national hero. But strangely he wouldn’t have been allowed to operate at the time as a commercial airline pilot. At 168cm in height he wasn’t tall enough for Chinese ...

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