12-Jan-2009 11:32 AM
China Eastern's fuel hedging loss rivals Cathay Pacific's - share price wrap
Analysis
Another massive fuel hedging loss has emerged among Asia's airlines. Wrong-way bets on fuel cost embattled China Eastern Airlines USD908 million in 2008. Last week, Cathay Pacific stated its unrealised mark-to-market fuel hedging losses reached USD980 million as at 31-Dec-08. China Eastern's shares fell 5.1% on 09-Jan-09, while Cathay's shares dipped 0.8%.
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