Lunar New Year may be more than two months away but one Chinese fuel supplier is already gearing up for an expected surge in air travel.
China Aviation Oil (CAO) is seeking to import jet fuel for January delivery in its first buy tender since May, according to data compiled by Bloomberg. The move by CAO, one of the largest buyers of jet fuel in Asia, comes as Chinese domestic air travel continues to recover after the pandemic-driven destruction.
Tourism has rebounded in China after early and aggressive measures by the country to tackle the coronavirus proved effective in curbing its spread. The nation’s success in warding off a major outbreak during the Golden Week holiday in October could also help boost optimism for locals preparing to travel back home during the Lunar New Year break.