BUZZ-Mainland shares of major Chinese airlines slip, China Southern leads decline

Reuters
Oct 10
BUZZ-Mainland shares of major Chinese airlines slip, <a href="https://laohu8.com/S/003035">China Southern</a> leads decline

** Mainland-listed shares of major Chinese airlines slip after the Trump administration proposed barring Chinese airlines from flying over Russia on U.S. routes

** Shanghai-listed stock of Southern China Airlines 600029.SS leads the slide, falling 1.6% by lunch break, Air China 601111.SS slips 1.1% and China Eastern Airlines 600115.SS is down 0.7%

** However, Hong Kong-listed Cathay Pacific 0293.HK adds 0.5%

** U.S. airlines have long criticized the decision to allow Chinese carriers to use Russian airspace on U.S. routes because it gives them the advantage of decreased flying time and burns less fuel, lowering costs

** Russia has barred U.S. airlines and many other foreign carriers from flying over its airspace in retaliation for Washington banning Russian flights over the U.S. in March 2022

** In China, benchmark CSI 300 Index .CSI300 falls 1.3% and Hong Kong's Hang Seng Index .HSI declines 1.1%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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