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| July 30,2010 |
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China Eastern Airlines reports huge loss in 2008
Shanghai (AFP) April 16, 2009China Eastern Airlines said it suffered a net loss of 15.3 billion yuan (2.2 billion dollars) last year due to falling passenger numbers, rising fuel costs and bad bets on fuel hedging contracts. The country's third largest carrier, which posted a net profit of 378.6 million yuan in 2007, said its revenue declined 3.4 percent to 41.1 billion yuan last year. "The global financial crisis. ... read more *New* Comments: 0 Airlines fear failure of global climate talks 
Geneva (AFP) April 1, 2009Major airlines warned on Wednesday that failure to agree a global approach to emissions trading in climate change talks could hurt their industry by leading to increased taxes and regulation. "I think Copenhagen is very important for the airline industry, we must play our part," British Airways chief executive Willie Walsh said at a conference in Geneva, referring to the UN's climate change ... read more *New* Comments: 0 State takes control of China's first private airline: report 
Beijing (AFP) March 19, 2009China's first private airline will soon be nationalised, after a cash injection from a state-owned carrier, Chinese media reported Thursday. Sichuan Airlines announced it would pump 200 million yuan (29 million dollars) into troubled United Eagle Airlines to increase its stake in the company to 76 percent, up from 20 percent, the Beijing News said. United Eagle Airlines, based in the sou ... read more *New* Comments: 0 Troubled private Chinese airline says president missing
Beijing (AFP) March 18, 2009The president of a troubled private airline in China has gone missing, the company said Wednesday, amid reports he was taken away by police. East Star Airlines, based in the central city of Wuhan, confirmed its president Lan Shili had disappeared. "The government has informed us that all we can tell the media is we have a problem in operations. We are also looking into president Lan's wh ... read more *New* Comments: 0 Cathay Pacific lost 1.1 billion dollars in 2008 
Hong Kong (AFP) March 11, 2009Cathay Pacific said Wednesday it lost more than one billion US dollars last year, its first annual loss in a decade as the Hong Kong carrier struggled with fuel prices and falling cargo business. Like other airlines, the global downturn left Cathay stuck with money-losing fuel contracts - signed when prices were high before the slowdown kicked in - and chairman Christopher Pratt warned 200 ... read more *New* Comments: 0 |
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