News / Sichuan Airlines struggles, while China's airfreight market weakens

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China’s lockdowns are playing havoc with its airline industry, with three of its four main regional airlines reportedly close to insolvency, including freighter operator Sichuan Airlines.

News site 163.com looked at the asset-to-liability ratios of several Chinese airlines and found Sichuan was at 85.8%. It is thought to have lost CNY9bn ($1.3bn) since Covid struck, but half of that was in the first six months of this year.

“It can be surmised that Sichuan Airlines lacks the means to pay its debts ...