Air China will accelerate talks with Cathay Pacific Airways regarding the formation of an air cargo joint venture based in Shanghai, the South China Morning Post reported. The venture is aimed at mounting a stronger challenge to China Eastern Airlines and Shanghai Airlines, which are set to merge this year. Air China posted a first-half net profit of US$424.4 million, up 155 per cent year-on-year on the back of rebounding domestic demand and lower fuel costs. Air China board secretary Huang Bin … [Read more...] about Air China to accelerate JV talks with Cathay
Air China
CHINA: Air China to increase cross-strait flights
Air China announced that it will increase the number of direct flights it offers between the mainland and Taiwan, according to a South China Morning Post report. China’s secondlargest airline said it will offer 27 cross-strait flights a week as early as August. The announcement follows last month’s expanded air-service pact, signed by Beijing and Taipei, to increase the number of flights to 270 a week from 108 in an effort to promote crossstrait tourism and business. Air … [Read more...] about CHINA: Air China to increase cross-strait flights
Air China profits and may sell-off China East stake
Air China Ltd has reported profits of CNY 981 million (US$143.7 million) in the first quarter of 2009, after incurring a loss of CNY 9.15 billion, including CNY 7.47 billion from fuel hedging losses, in the full year 2008. After the third quarter 2008 plunge in the global air market, Air China slashed its capacity on European and US routes by more than 40 per cent, focusing instead on domestic routes. China National Aviation Holding Company (CNAHC), parent company of Air China, is also … [Read more...] about Air China profits and may sell-off China East stake
Air China eager to set up Shanghai cargo carrier
China's Air China is set to buy East Star Airline and also is negotiating with Cathay Pacific and China Eastern subsidiary China Cargo Air to establish a joint venture cargo airline in Shanghai, according to a report in Chinastakes.com. Air China chairman Kong Dong, who also is general manager of Air China Group, Air China's parent company, said the buyout deal - with the nine plane, 10 route East Star Airline - would be finalised soon. East Star is believed to owe Hangzhou Xiaoshan Airport more … [Read more...] about Air China eager to set up Shanghai cargo carrier
Air China takes delivery of new B737-800
GE Commercial Aviation Services (GECAS) has announced the delivery of a new Boeing 737-800 aircraft to Air China as the carrier undertakes its ongoing fleet modernisation. GECAS currently leases 16 other aircraft to the carrier and manages six aircraft leased to Air China on behalf of other owners. … [Read more...] about Air China takes delivery of new B737-800
More bad news from China carriers
Air China and Shanghai Airlines joined China Southern Airlines and China Eastern Airlines in announcing that they expect to report losses for 2008. Both carriers cited declining market demand along with the impact of May's Sichuan earthquakes, stricter security measures surrounding the Beijing Olympics, the global financial crisis and the mid-year spike in fuel prices, followed by fuel hedge losses. Air China noted that it suffered a US$993.3 million loss resulting from a writedown in the value … [Read more...] about More bad news from China carriers
