China's big three state airlines lag behind profitable private peers

HONG KONG -- China's three major state-owned airlines continue to lag far behind their private peers in financial performance, earnings previews show, even as mainland passengers and cargo transport record double-digit growth.

China Southern Airlines, Air China and China Eastern Airlines separately said late Thursday that they all expect net losses for the first six months of 2024, with the red ink ranging from 1.06 billion to 3 billion yuan ($146 million to $413 million).