Airlines How are airfares trending in China?

Fares for future departures are based on high-frequency observations, weighted by a standard booking curve. Forward observations are as of 5-Apr-20.

31 Mar 2020
  • As of March 1, airfares for domestic flights departing in 3 weeks were down as much as ~50% y/y; some airlines are showing y/y increases for flights departing in 4 weeks.
  • All airlines saw y/y fare increases for departures at the end of January. Note that Chinese New Year was on January 25 in 2020 and February 5 in 2019.
  • Fares for more recent departures saw double-digit y/y declines (14-36%).
  • China Eastern and Air Macau saw the steepest falls after posting flat or increased prices y/y in recent months.

Y/y change in domestic airfares based on weeks before departure; observation week ending 1 March 2020

Source: UBS Evidence Lab