financetom
Business
financetom
/
Business
/
Australia's Qantas to suspend Shanghai flights on low demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Australia's Qantas to suspend Shanghai flights on low demand
May 13, 2024 8:56 PM

May 14 (Reuters) - Qantas Airways ( QUBSF ) said on

Tuesday it will suspend flights to Shanghai starting July 28,

citing low demand, about nine months after the Australian flag

carrier resumed service from Sydney on hopes of a travel rebound

following the pandemic.

International flight numbers to and from China are about 70%

of pre-pandemic levels and have been slower to recover than in

other markets because of fewer tourists and a domestic economic

slowdown.

"Since COVID, the demand for travel between Australia

and China has not recovered as strongly as expected. In some

months, our flights to and from Shanghai have been operating

around half-full," Qantas International CEO Cam Wallace said.

Qantas aircraft on the Shanghai route will be redirected to

other destinations across Asia with higher demand or new tourism

opportunities, the company said.

Qantas will continue to monitor the Australia-China

market closely and return to Shanghai when demand has recovered,

the carrier added.

Qantas still flies to Hong Kong from Sydney and Melbourne,

and has partnerships with other airlines for onward travel

within China.

The carrier also announced a new route from Brisbane to

Manila starting in late October, as well as additional flights

to Singapore. It will also increase its flight frequency from

Sydney to Bengaluru.

China's Civil Aviation Administration has said it expects

overseas flights to return to 80% of pre-COVID levels by the end

of 2024. China's domestic flight capacity recovered faster,

surging past 2019 levels in early 2023 soon after the country

lifted travel restrictions.

U.S.-China flights have seen the slowest recovery but

are increasing, with service at 16.5% of pre-pandemic levels,

the International Air Transport Association (IATA) said this

month.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved