China's airlines reported a collective first-quarter net loss of CNY820 million ($106.7 million), narrowed from a CNY2.14 billion deficit in the year-ago quarter, according to figures released by CAAC. Operating revenue rose 19.9% to CNY40.5 billion while costs increased 16.5% to CNY41.2 billion. Chinese analysts credited "drop of fuel price" and "strong market demand" for the improved performance. The government slashed the price of jet fuel by CNY180 per ton at the beginning of the year, ...

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