Loading

Shenzhen Airlines' assets seized as fuel bill bites, but profitability continues into 1Q2009

The ongoing economic recession is taking its toll on China’s airline industry. China’s largest private airline, Shenzhen Airlines’ USD26.5 million ticketing account was reportedly seized by the Second Intermediate People's Court of Beijing, as remittance for outstanding fuel debts owed to South China Bluesky Aviation Oil. The carrier cited fluctuating fuel prices and the economic recession, which had restricted the airline’s cash flow in 2008, for the default fuel bill.

Become a CAPA Member to access Analysis Reports

This CAPA Premium Analysis Report is 714 words.
Become a CAPA Member

Our Analysis Reports are only available to CAPA Members. CAPA Membership provides exclusive access to in-depth insights on the latest developments in the aviation and travel industry, developed by our team of dedicated analysts located in Europe, North America, Asia and Australia.

Each report offers a fresh perspective on the latest industry trends and is available online or via the CAPA mobile app, with customisable alerts to help you stay informed and identify new business opportunities.

CAPA Membership also provides access to our full suite of tools, including a tailored selection of more than 400 News Briefs every weekday and comprehensive data and analysis on thousands of companies around the world.