Not only numbers in the arrival of tourist exchanges are affected in the ongoing tensions between China and the Philippines, but also the potential income of the airline industry shuttling the tourists between the two Asian countries.

On Tuesday, China Southern Airlines, one of China's three major airlines, announced that its twice a day flights to the Philippines will be reduced on certain dates from May 26 to June 30.

Quoting an unnamed China Southern Airlines spokesman, state news Xinhuanet reported the withdrawal of a large number of tourist groups from China to the Philippines prompted the airline's flight plan modification. Estimates as to how this adjustment could affect the airline's earnings were not provided.

China Southern Airlines flies two flights daily between China's Guangzhou city and Manila, capital of the Philippines.

Earlier this month, China's National Tourism Administration issued a travel safety advice to its citizens, triggering a massive cancellation of package tours by major Chinese travel agencies.

Apart from China Southern Airlines, other major airline carriers serving the Chinese mainland and cities in the Philippines include Air China, Philippine Airlines and Cebu Pacific Air.

Meanwhile, the shrinking tourist numbers brought by the continued tensions in the South China Sea that started on April 10 have made a dent on the Philippine peso.

The country's currency dived 0.1 per cent to $42.753 during the noon trading break in Manila, Bloomberg News reported, based on data from Tullett Prebon Plc. It was its lowest since April 11.