Journey.com, China’s high journey reserving website, misplaced $131 million within the final three months of 2021 in contrast with a revenue of $159 million a yr earlier as Covid-19 infections reemerged in China, the corporate mentioned in an announcement as we speak.

The brand new outbreaks “discouraged consumer demand” for the corporate’s merchandise, Journey.com mentioned.

Web income within the fourth quarter totaled $735 million, a 6% lower from the identical interval in 2020. (See announcement right here.)

“Going ahead, we’ll proceed to concentrate on the enterprise restoration within the Chinese language home market whereas remaining formidable with our world imaginative and prescient in the direction of world journey reopening,” Chairman James Liang mentioned.

China’s home market, nevertheless, is getting damage once more this quarter by Covid outbreaks in main cities together with Shanghai. The nation additionally suffered an airline catastrophe this week when a China Japanese Airways flight mysteriously crashed with 132 onboard and no reported survivors.

Ctrip’s shares have tumbled greater than 36% within the final yr amid the continued world influence of the pandemic.

Journey.com has three billionaires on its board – Baidu CEO Robin Li, Sequoia China Founding Managing Associate Neil Shen, and Huazhu lodge chain founder Ji Qi. Shen and, one other member, JP Gan, are members of the 2021 Forbes Midas Listing.

See associated put up:

Journey.com Makes A Content material Push As Covid Limits Worldwide Journey

Extra Restaurant Business Woes In China: Haidilao Sees Up To $710 Mln Loss

@rflannerychina