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Article: Air China loses 9.15 bln yuan in 2008, earns 981 mln in Q1
- Article from:
- Xinhua News Agency
- Article date:
- April 17, 2009
CopyrightCopyright 2009 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Air China loses 9.15 bln yuan in 2008, earns 981 mln in Q1
BEIJING, April 17 (Xinhua) -- Air China Limited (Air China), a
major airlines in the country, reported a profit loss of 9.15
billion yuan (about 1.34 billion U.S. dollars) in 2008.
But the company enjoyed a business recovering with a net profit
of 981 million yuan in the first quarter this year.
Air China called 2008 the most challenging year since 1988 when
it was founded.
Business suffered severely from market contraction and oil price
turbulence brought about by global financial crisis, the company
said in its annual business report.
Fuel-hedging contracts alone cost Air China 7.47 billion yuan.
The company also lost 1.15 ...