China's airports live in interesting times: Guangzhou, Shanghai, Shenzhen and Xiamen perspectives
While the pandemic is considered in most parts of the world to be abating, the travel and transport industries continue to be wary of developments in China, where large cities are locked down at a level not previously witnessed.
Two recent CAPA reports, one on Beijing Capital Airport Holdings (26-Mar-2022) and one on early financial results for 1Q2022 (03-Apr-2022), both painted a picture of the continuing difficulties posed to the airport industry by the COVID-19 pandemic. The pandemic has reared its head again in China, and especially in the principal government and commercial cities of Beijing and Shanghai.
The country is a constant reminder of how bad things have been for the business, and the financial statements for the first quarter of 2022 issued by four airport groups, three of them in very large conurbations, are testimony to that.
"Interesting times" indeed, as the Chinese curse mentions.
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