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 ...

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