China Aviation Oil's 2022 profit to increase 46%: RHB
A return to pre-pandemic levels, however, could take two to three years.
China Aviation Oil is expected to see a 46% surge in its 2022 profit, according to an update published by RHB.
A rebound of domestic aviation traffic is expected to happen next year, the report pointed out. This is due to a statement made earlier by China's top three airlines, stating that the government’s current travel restrictions could last until next year.
A return to pre-pandemic levels, however, could take two to three years and is in line with the projected recovery of global aviation traffic.
Previously, aviation passenger volume experienced a 50% year-on-year drop to $22.4m in August.