The Chinese government has lowered domestic jet fuel prices 0.6% to CNY7,389 ($1,173) per ton from CNY7,436 per ton as international fuel prices fluctuate. Fuel costs, which account for more than 40% of China’s big three carriers’ total operating expenses, contributed to sharp first-half profit declines for all Chinese airlines in 2012. China Southern Airlines, which operates 80% of its flights on domestic routes, could see its fuel costs reduce CNY95.6 million annually. ...

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