9-Jan-2018 10:45 AM
China further relaxes regulation on domestic air fares
CAAC announced (Dec-2017) that airlines can set their own prices on domestic services on which at least five airlines compete, affecting more than 300 routes. Any planned increments for fares is capped at 10%. China has been relaxing restrictions on domestic fares in recent years, including removing a maximum cap on select routes. CAAC previously said it plans to have a market based pricing mechanism in place for air fares before 2020. [more - original PR - Chinese]