My Account Menu

CAPA Login


Register to trial CAPA Membership!

2008 a year to forget for Air China, but 2009 could be far worse

20-Jan-2009

Air China warned investors on 18-Jan-09 that it expects to report a “significant loss” in 2008, due to slowing travel demand and higher fuel costs. The carrier also unveiled unaudited paper losses of CNY6.8 billion (USD994.5 million) on wrong way bets on fuel last year – ranking it in first place in terms of unrealised losses, as at 31-Dec-08, of the carriers that have disclosed their positions to date. Between them, Air China, Cathay Pacific, China Eastern and Taiwan’s China Airlines have unrealised losses totalling over an astonishing USD3.5 billion. [743 words]

Unlock the following content in this report:

Subheadings:

  • 2008 traffic withers
  • Buying a slice of East Star Airlines

Graphs and data:

  • Asia Pacific airlines fuel hedging mark to market losses: As at 31-Dec-08
  • Air China passenger numbers vs cargo volume growth (% change year-on-year): Jan-08 to Dec-08
  • Air China domestic vs international passenger numbers growth (% change year-on-year): Jan-08 to Dec-08
  • Air China domestic vs international passenger load factor (%): Jan-08 to Dec-08
Please login to continue reading or find out more about CAPA Membership below.
This content is exclusively for CAPA Membership Subscribers

CAPA Membership gives you the latest aviation news and alerts, access to CAPA articles, reports, and our leading aviation data with optional premium add-ons.