US, China Take Divergent Paths for Airlines as Pandemic Fades
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The US and China took different approaches to reopening their economies in 2022-2023. The US opened faster while China maintained zero-COVID policies until late 2022.
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China's domestic airline market share shrank from 9.8% in 2019 to 6.4% in 2023, while the US market grew from 14% to 19.2%.
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The top 5 Chinese airlines barely grew their fleets from 2022 to 2023, while the top 5 US airlines added 267 aircraft.
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China's GDP growth is projected at 5.4% in 2023 vs. 1.6% for the US, but risks remain amid global uncertainty.
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US airlines like Delta and United remain optimistic about demand, while China Southern is cautious amid "complex environment."