Air China blames fuel hedges for 2008 loss, looks to diversify

Air China is blaming its fuel hedges for its 2008 loss and plans to shift more attention to boosting ancillary revenue to help engineer a turnaround this year. The carrier reported a CNY6.8 billion ($993.2 million) noncash loss resulting from a Dec. 31 writedown in the value of its fuel hedges. It...

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