Chinese carriers reported a net loss of CNY2.1 billion ($3.45 million) in December, down 5% over a net loss of CNY2.21 billion in the year-ago period. Operating revenue rose 8% to CNY3.14 billion against a 7% increase in operating expenses to CNY31.4 billion. Industry analysts attributed the loss to the low season, lower air fares driven by the global economic recession, and the decline in premium passenger boardings owing to China’s new policy for government officials to be more ...

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