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