Air China and China Eastern Airlines insisted that fuel hedging is a solid long-term strategy and pledged to continue with it to insulate them from price fluctuation despite huge hedging losses for full-year 2008 and the 2009 first quarter. CA and CEA reported CNY948 million ($138.8 million) and CNY916 million fuel hedge losses respectively in the first quarter, which followed hedging losses of CNY7.47 billion and CNY6.2 billion respectively by the two carriers for full-year 2008. ...

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