Air China is expecting to post its first annual loss in eight years due to slumping demand and bad bets on fuel prices, state media reported. The company said in a statement filed with the Hong Kong stock exchange on Friday that it lost US$994.5 million on fuel hedging in 2008. Chinese carriers are banned from hedging purchases on fuel used for domestic flights, which in the past made Air China less vulnerable than its competitors to rising fuel prices. But jet-fuel prices have fallen more than … [Read more...] about Air China expects first loss in 8 years
China Southern Airlines
Air China and China Southern Airlines
Air China and China Southern Airlines both endured double-digit yearover- year traffic declines in August, and while some of the drop can be attributed to heightened security related to the Beijing Olympics, slowing domestic economic growth likely means a poor full-year 2008 traffic and financialperformance for Chinese carriers. … [Read more...] about Air China and China Southern Airlines
