China’s two largest airways reported losses for the complete yr in 2023 as tepid demand for worldwide journey weighed on their companies.

China Southern Airlines Co. stated it expects a internet lack of 3.5 billion yuan ($487.3 million) to 4.7 billion yuan for the 12 months via Dec. 31 as a result of sluggish restoration of worldwide passenger flights, oversupply in the home market and excessive oil costs, the Guangzhou-based airline stated in an change submitting on Friday.