Hit hard by the deepening global financial crisis, Chinese airlines posted a net loss of CNY7.7 billion ($1.13 billion) in the first 11 months of 2008, according to CAAC Vice Minister Yang Guoqing. Yang noted in a conference this week that the carriers suffered from a sharp decline in demand last year, especially on international routes. Even Hong Kong and Macau slipped. Based on the regulators' rough estimate, Chinese airlines transported 192 million passengers in 2008, down 13% from 2007. ...

Subscribe to Access this Entire Article

"Chinese carriers posted CNY7.7 billion net loss in first 11 months of 2008" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.