North Asian airline shares slammed as fuel hedging losses hit USD3 billion - share price wrap

China Airlines is the latest North Asian carrier to reveal significant paper losses from ill-fated fuel hedging activities last year. The Taiwanese carrier disclosed a USD629 million unrealized loss last year, taking such losses for North Asian carriers, including Cathay Pacific (shares down -1.4% yesterday), Air China (-9.4%) and China Eastern Airlines (-7.1%) to USD3 billion. Much more is set to come as other carriers disclose their positions in coming weeks.