2-Jan-2013 12:56 PM

Chinese carriers report USD89.1m loss in Nov-2012, loss to continue in Dec-2012

CAAC announced Chinese carriers reported a loss of CNY570 million (USD89.1 million) in Nov-2012, compared to a loss of CNY1220 million (USD190.6 million) in Nov-2011, and expects the loss to continue in Dec-2012. According to a Yicai report, fuel costs increased by CNY530 million (USD82.8 million) for Chinese carriers while exchange gains reached CNY440 million (USD68.8 million) in Nov-2012.