Monday, November 10, 2008

Major Chinese airlines post losses for third quarter

Special Report:Global Financial Crisis






Major Chinese airlines have posted losses for the third quarter. The losses in the civil aviation industry are being attributed to the global financial crisis.











FilephotoshowsaircraftwaitingtodepartBeijingairport.



FilephotoshowsaircraftwaitingtodepartBeijingairport.Major
Chinese airlines have posted losses for the third quarter. The
losses in the civil aviation industry are being attributed to the
global financial crisis.



The third quarter is traditionally a strong season for the civil aviation industry. But the five listed mainland airlines all posted losses, with no exception.



Air China lost 1.9 billion yuan; China Eastern Airlines lost 2.3 billion yuan; China Southern Airlines lost over 800 million yuan. Shanghai Airlines and Hainan Airlines also saw big losses during the same period.



[GRAPHICS]



Q3 LOSSES IN MAJOR AIRLINES



Air China 1.94 billion yuan



China Eastern Airlines 2.33 billion yuan



China Southern Airlines 880 million yuan



Shanghai Airlines 440 million yuan



Hainan Airlines 260 million yuan



Source: Airlines' Q3 Reports

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