China Eastern Airlines is taking a series of measures to curb rising operating costs and try to engineer a turnaround from what it expects to be a significant 2008 loss. Already due a CNY7 billion ($1.02 billion) capital injection from the Chinese government (ATWOnline, Jan. 6), CEA said in a Monday filing with the Shanghai Stock Exchange that it suffered a CNY6.2 billion loss resulting from a writedown in the value of its fuel hedges on Dec. 31. It reported cash losses of $420,000 and $14.2 ...

Subscribe to Access this Entire Article

"China Eastern expects big 2008 loss, announces measures" 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?

Already registered? here.