China reports air passenger numbers +37.7% y/y in Q1 2024

China air passenger numbers +37.7% y/y in Q1 2024

• to nearly 180 mln trips
• +10.2% from Q1 2019

Total cargo turnover 34.93 billion ton-kilometers, up 45.6% year-on-yea

• +12.9% compared to the same period in 2019

Adding to the news earlier out China of a beat for GDP:

• China Q1 2024 GDP growth 5.3% y/y (expected +5.0%)

But a miss on much of the March data:

• China: March Industrial output +4.5%y/y (expected +5.4%) Retail sales +3.1% (4.5% exp)