China’s domestic airline industry is in danger of a financial collapse, as airlines are increasingly being forced to pay inflated fares for tickets they can’t deliver, a Bloomberg analysis of data from the airline industry shows.
The analysis shows that domestic carriers in the country of 8.2 billion are facing a $1.2 trillion loss in 2017, which is more than twice the current gross domestic product.
This comes on top of an estimated $1 trillion loss last year.
The data is from Bloomberg’s annual World Airports Index, which tracks the cost of air travel.
The industry is a big player in the global economy.
More than 80 percent of Chinese travel is made by domestic carriers.
That means the sector has been the world’s largest contributor to global economic growth since its founding in the 1970s.
But as Chinese economy slows and air travel costs soar, the airlines’ business model is at risk.
China’s domestic airlines have been hit hard by a fall in domestic demand, and they are facing increasing pressure to cut prices.
China has long been a big producer of airlines.
Since the beginning of the economic crisis in 2007, it has grown the domestic airline market by 50 percent and has expanded its domestic market by 60 percent, according to Bloomberg.
The government has made it harder for airlines to raise fares.
The latest restrictions have led to airlines flying more than 50 percent less often.
They also have pushed them to reduce flights and boost capacity, which has pushed up costs and hurt profitability.
The airlines that compete with domestic airlines are also suffering.
In the last two years, domestic carriers have cut about 50 percent of the number of flights they made in the first half of 2017, according for Bloomberg.
Airlines are under pressure from a growing number of passengers.
China’s growing middle class and an aging population means airlines are starting to face more pressure to provide better service and make more money.
China, however, has no proven plans to change its economy and the airline market is largely dependent on a combination of government policies, market forces and competition from domestic airlines.
This is a developing story.
Please check back for updates.