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14 Mar 2023

China Aviation Industry Newsletter

Cathay Pacific supports the Government’s Hong Kong’s aviation hub initiatives

Cathay Pacific announced its encouraged by the Hong Kong SAR Government’s initiatives to continue strengthening the Hong Kong international aviation hub. The airline welcomes further enhancement of Hong Kong International Airport (HKIA) as a regional multi modal transportation hub after the commencement of operations at the SkyPier Terminal in the middle of this year, as well as the completion of the entire Three-Runway System at HKIA by the end of 2024.

JX Luxventure and China Southern Airlines joint venture

JX Luxventure announced it has entered into a Memorandum of Understanding ("MOU") with China Southern Airlines in connection with exporting pre-owned new energy vehicles.  JX Luxventure CEO Ms. Sun "Ice" Lei said “We are thrilled to announce this strategic partnership with China Southern Airline, which represents a major step forward in our efforts to deliver comprehensive products solutions to global high-net-worth families. By leveraging our expertise in the pre-owned new energy vehicle market and China Southern Airline's cross-border capabilities, we believe we can create significant value for our customers and shareholders alike. We look forward to working closely with China Southern Airline to explore new business opportunities and drive growth in the years ahead."

Sabre data indicates significant outbound travel rebound

Sabre has sifted through its extensive shopping and booking data to examine the impact of the reopening through February 9, 2023 on tourism in China, and globally. Key findings, following re-opening announcements on December 26, January 8, and January 20, include Demand is outstripping supply with Chinese airlines leading capacity growth, New booking habits suggest long-term travel confidence. Strong outbound demand among Chinese travellers for trips despite high air fares, with fares peaking at more than twice in January, and almost twice in February when compared to pre-pandemic prices levels. According to Sabre the largest sources of inbound travel for China so far in 2023 are Taiwan, the United States, Thailand, Korea, the United Kingdom and Canada.

Worldwide Flight Services (WFS) extends partnership with China Eastern Airlines

Worldwide Flight Services (WFS) has expanded its tie-up with China Eastern Airlines with a new three-year agreement to manage Boeing 777 cargo-only flights in Liege, Belgium. The partnership extension will see WFS handling around 32,000tpa of cargo for the airline, onboard up to nine B777 flights per week into Liege Airport from Yantai Penglai International Airport in Shandong Province, China.

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