In an attempt to reboot the aviation industry and boost the economy, the Chinese government has announced it will provide financial support to airlines. The Civil Aviation Administration of China (CAAC) is hoping to reinvigorate the nation as the coronavirus continues to impact industries.
China has announced it will offer subsidiaries to airlines if they start flying to China again. With the outbreak of the coronavirus, many airlines around the world have curbed or canceled flights to mainland China for fear of spreading the disease.
According to Cirium, 347,414 flights were canceled between the 24th of January to the 27th of February. This number is rising as the outbreak continues. But as the number of new cases of the virus appears to be stabilizing, airlines are looking to minimize financial damage.
China has said it will pay 0.0176 yuan ($0.0025) per seat per kilometer for any airline which reopens routes that are shared by multiple carriers. This number jumps up to 0.0528 yuan ($0.0076) for any carrier willing to open a route which they alone operate.
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