Previous Close | N/A |
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Market Cap | 11.098B |
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China's civil aviation authority has granted Air Koryo approval to fly between Pyongyang and Beijing on Tuesday, Thursday and Saturday from March 26 to Oct. 28, the authority said on Wednesday in a response to Reuters queries. Chinese state carrier Air China, which also used to fly between the two cities, has not applied to resume flying China-North Korea routes, it said. Before the COVID-19 pandemic, there were usually about 3-5 Air Koryo flights between Beijing and Pyongyang a week, depending on season and demand, as well as flights to Shanghai and Shenyang, said Simon Cockerell, general manager at Beijing-based Koryo Tours.
China's three largest airlines reported narrower losses in the first quarter, with domestic and international travel picking up after the country dropped its strict COVID restrictions at the end of last year and reopened its borders. Shanghai-based China Eastern Airlines Corp Ltd, China's no. 3 carrier by revenue, cut its first quarter loss to 3.8 billion yuan ($549.3 million) from 9.3 billion yuan in the last three months of 2022. China Southern Airlines Co Ltd, which posted a staggering 15.1 billion yuan loss in the last quarter of 2022, reported a 1.9 billion yuan net loss, while flagship carrier Air China Ltd cut its quarterly loss to 2.9 billion yuan from 10.5 billion yuan.