Chinese carriers reported a cumulative net loss of CNY1.5 billion ($244 million) in January due to seasonal factors and overcapacity, a sharp reversal from a net profit of CNY1 billion in the year-ago month. Total operating revenue fell 10% to CNY 31billion while operating expenses decreased 6% to CNY27.8 billion. Industry analysts cited January’s traditional low season and low airfares resulting from overcapacities as the main reasons for the loss. Passenger boardings rose 4% to 32.46 ...

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