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Canary in the mineshaft begins to call

29-Aug-2008

Loss-making China Eastern Airlines could be sounding a warning most of the rest of the world does not want to hear. Unveiling operating losses of close to USD1 million per day in the first half of 2008, the Shanghai-based airline stated it faces an “extremely complicated operating environment” in the second half, with “increasing uncertainties in the global economy, while the Chinese economy will probably experience a slowdown under the macroeconomic adjustment policy”. [794 words]

Unlock the following content in this report:

Subheadings:

  • Air China more optimistic
  • Conclusion: The world will continue to look on

Graphs and data:

  • Two of China's major carriers are the worst performers in the region Asia Pacific airline operating profit margins (%): 1H08
  • Share price index for Air China, China Eastern and SIA: 03-Jan-08=1
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