Chinese carriers have reduced US dollar debt ratios on aircraft purchases as the weakening yuan (CNY) continues to impact airlines’ financial performance. The weaker yuan hurts Chinese airlines because they pay for aircraft in US dollars, but generate revenue in yuan. Last year, China’s big four carriers (Air China, China Southern, China Eastern and Hainan Airlines) reported collective currency exchange losses of CNY17.6 billion ($2.6 billion) as a result of yuan depreciation ...

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