Top State-Owned-Enterprises in China Suffered Huge Loss

According to reports on January 30, Communist China’s three largest airlines, Air China, China Eastern Airlines and China Southern Airlines, released earnings reports showing that the three companies had a combined loss of more than RMB 100 billion in 2022, with each company reporting a loss of more than RMB 30 billion respectively.

Air China said to the public that the company’s loss was due to the impact of multiple unfavorable factors such as COVID pandemic, high fuel prices, exchange rate fluctuations and passenger travel demand at a low level, which led to further difficulties in improving the company’s operations. Similar analysis was expressed by China Eastern and China Southern.

It is not only the airline industry that has seen huge losses, but also in various industries in mainland China. Chinese state media blamed this on outbreaks of the pandemic, the fluctuating exchange rate and the continued high price of crude oil. But the root cause is Xi Jinping’s “Zero-COVID” policy and the Chinese Communist Party (CCP)’s brutal rule of the Chinese people.

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Translator: NFSC News
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