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5-Mar-2010 10:18 AM

Air China expects improved financial performance in 2010

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.