Hit hard by the deepening global financial crisis, Chinese airlines posted a net loss of CNY7.7 billion ($1.13 billion) in the first 11 months of 2008, according to CAAC Vice Minister Yang Guoqing. Yang noted in a conference this week that the carriers suffered from a sharp decline in demand last year, especially on international routes. Even Hong Kong and Macau slipped. Based on the regulators' rough estimate, Chinese airlines transported 192 million passengers in 2008, down 13% from 2007. ...

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