Travel Gold Rush Seen for Trip.com as Covid Wanes

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Key takeaways: 1、 Trip.com posted a 989 million yuan loss in the first quarter, as revenue fell 12% from the previous quarter. 2、 Despite the weak performance, the company was upbeat about a potential boom in outbound China tourism once the country relaxes its travel restrictions. It’s a tough gig running an online travel agency in China these days. The country remains off limits to international travelers, and ongoing Covid-related restrictions inside China are hitting the domestic travel sector hard as well. Acutely feeling that pain is  Trip.com  (TCOM.US; 9961.HK), the Shanghai-based online travel juggernaut that has just reported its  first-quarter results  that don’t look so good. But there was also a lot of sunny optimism from company officials, who believe they are well positioned to hitch a ride on a travel gold rush that’s building globally and could soon come to China when the country reopens for international travel. First the bad news. Trip.com ………………………………