Air China and China Eastern Airlines are sticking to their fuel hedges despite the government's concern over heavy losses suffered last year and recent indications that Beijing intends to impose tighter control on the practice. Prompted by CA's CNY448 million ($65.6 million) cash loss on its 2008 hedges and CEA's $122 million cash loss in the 2009 first quarter, the state-owned Assets Supervision and Administration Commission of the State Council (the controlling stakeholder of both CA and ...

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