Now is a good time to buy a cheap plane ticket in China, HSBC tells travellers
Carriers adding more routes and economic uncertainty on the mainland will put pressure on airlines to cut prices, HSBC says
Airfare prices in China will continue to fall until the end of the year, as the travel off season begins and carriers grapple with tepid domestic consumption, HSBC said.
The addition of more routes and economic uncertainty on the mainland will put pressure on airlines to cut prices, according to an HSBC global research report dated October 31.
During the first four days of the holiday, the number of transactions made via Alipay in overseas markets surged 60 per cent from a year earlier. Malaysia, South Korea, Thailand, Hong Kong and Singapore recorded the fastest growth in transactions.
After National Day, airfares fell rapidly from October 8 to the end of the month, according to flight booking platform Umetrip. Specifically, the average price of a domestic ticket in China fell 11 per cent, while international trips fell 23 per cent.