China airfares rebound in potential rehearsal for global recovery

Airfares in China are almost back to pre-crisis levels, and U.S. ticket prices seem to be going the same way, offering a glimmer of hope to the world’s battered airlines  All airlines are facing new headwinds from rising oil prices – exacerbated this week by a shipping blockage in the Suez Canal – and concerns over COVID-19 restrictions in international markets. Parash Jain, head of Asia Pacific transport research at HSBC, expects 2021 to be another loss-making year for the three biggest Chinese airlines and warns their shares already look like they have overshot. “What we’re seeing is the…