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Air China's international network to grow once more, as aviation sector strengthens

22-Oct-2009

Li Jiaxiang, CAAC Minister, announced that as of 12-Sep-2009, Chinese airlines have made a combined CNY8 billion (USD1.2 billion) profit this year. The nation’s carriers have thus apparently rebounded in spectacular fashion from last year’s travel slump and massive losses, caused by the Beijing Olympics security clampdown, the Sichuan earthquake, the global recession and bad fuel hedging positions. This is a somewhat surprising statement, given the scale of government handouts that have been until recently given to prop-up China’s major state-owned loss-making airlines. [1111 words]

Unlock the following content in this report:

Subheadings:

  • Cargo JV shows confidence in market resurgence
  • New short-term bills to boost balance sheet
  • Fuel hedges to continue, despite government misgivings
  • Welcome relief on the fuel front
  • Two decades of services to Nepal over the Himalayas
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