Chinese airlines earned a collective profit of CNY7.4 billion ($1.08 billion) in 2009, a big turnaround from the CNY31.8 billion net loss suffered in 2008, CAAC Vice Minister Wang Changshun revealed yesterday at the regulator's annual conference. Total operating revenue was CNY212 billion. Industry analysts are crediting the recovery of the domestic economy, government subsidies and the revival of the civil aviation construction fund for the improvement. Hedging gains resulting from rising ...

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