Chinese airline traffic bounces back in May?

The headline numbers out of China look fantastic, but 15%+ growth in traffic last month must be taken with a grain of salt. Between May and August last year, air travel demand in China was down by 10-20%, making the basis of comparison this year very difficult. [346 words]

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This report contains the following subheadings:

• Freight downturn continues

This report contains the following charts and tables:

• Cathay, Hainan Airlines, China Eastern, China Southern and Air China passenger numbers growth: Jan-07 to May-09
• Cathay, Hainan Airlines, China Eastern, China Southern and Air China RPK growth: Jan-07 to May-09
• Cathay, Hainan Airlines, China Eastern, China Southern and Air China ASK growth: Jan-07 to May-09
• Cathay, Hainan Airlines, China Eastern, China Southern and Air China PLF growth: Jan-07 to May-09
• Cathay, Hainan Airlines, China Eastern, China Southern and Air China FTK growth: Jan-07 to May-09