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Air China expects improved financial performance in 2010

5-Mar-2010 10:18 AM

Air China Chairman, Kong Dong, stated the carrier's financial performance in 2010 is expected to improve from 2009 levels, although no earnings estimates were provided (Reuters/Shanghai Daily, 04-Mar-2010). The carrier, which returned to profitability in 3Q2009 due to fuel hedging gains and a strong recovery in domestic air travel demand, stated it would focus on its cargo business to improve its financial results

Air China: "The past year of 2009 was the most difficult year, not just for us but for all airlines worldwide. I believe our financial performance will be better than last year for sure...Currently, foreign airlines control about 70% in market share of cargo imports and exports in China, we want to change the situation and I think we can make the change," Kong Dong, Chairman. Source: Reuters, 04-Mar-2010.