Chinese hub airports see surging demand in first half of 2024

Many hub airports in China have seen a rise in demand, a positive sign indicating recovery in the market.

Data released on Tuesday by Guangzhou Baiyun International Airport in South China’s Guangdong Province showed that the airport's operations gradually recovered in the first half of 2024, with a total of 248,400 flights, up 15.17 percent year-on-year, and the passenger throughput totaled 36.65 million trips, up 26.67 percent year-on-year.

The airport estimated that net profit attributable to shareholders for the first half year will be between 404 million yuan ($55.56 million) and 494 million yuan, up by 155.67 percent to 212.48 percent year-on-year.

The airport said the growth is primarily due to the gradual recovery of demand in the aviation sector.

Shanghai Airport Group also projected an increase in profit of more than 50 percent year-on-year for the first half year.

The airport also expects to achieve a net profit attributable to shareholders of between 710 million yuan and 870 million yuan, up 435.87 percent to 556.63 percent year-on-year.

The airport attributed the surge in income to joint marketing with other airports and airlines, resumption of international flights, and opening of new routes.

“One reason for the recovery in demand in China's aviation sector is the robust performance of the Chinese economy,” Wei Jigang, a research fellow with the Development Research Center of the State Council, told the Global Times on Tuesday. He said that the overall macroeconomic situation is stabilizing and improving,

Wei said that the integrated development of the aviation sector and the deep integration of related industries can stimulate demand.

The airports also indicated an increase in international passenger trips, which have been supported by the Chinese government's efforts to promote international exchanges, such as offering friendly visa policies to more regions.

In the first half of the year, 14.635 million foreigners entered the country through various ports, an increase of 152.7 percent year-on-year, data from the National Immigration Administration showed.

Among them, 8.542 million entered visa-free, accounting for 52 percent of the total, an increase of 190.1 percent year-on-year.