Air China is blaming its fuel hedges for its 2008 loss and plans to shift more attention to boosting ancillary revenue to help engineer a turnaround this year. The carrier reported a CNY6.8 billion ($993.2 million) noncash loss resulting from a Dec. 31 writedown in the value of its fuel hedges. It recorded cash losses of $5.9 million and $52.8 million on its fuel hedge contract in November and December respectively. In addition, VP Fan Cheng noted that a "slowdown" in yuan appreciation ...

Subscribe to Access this Entire Article

"Printer-friendly" 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? ATWPlus@penton.com.