China's Biggest Airlines Post Over $1 Billion Loss in First Half as Fuel Shock Bites

China’s three biggest state-owned airlines reported significantly deeper first-half losses, with fuel costs rising sharply after the Middle East conflict and pressure from weak domestic pricing. Air China, China Southern Airlines and China Eastern Airlines posted combined net losses of about 8.17 billion yuan (around $1.21 billion), after warning in July the total could approach 9 billion yuan. Air China lost 2.29 billion yuan, China Eastern 2.18 billion yuan, and China Southern 3.70 billion yuan. Fuel expense rose 35% to 38% year-on-year. Passenger traffic rose 1.0% to 380 million, but DBS noted profitability remains “severely undermined.”