China's third airline posts big loss for 2008

摘要

Singapore-China Eastern Airlines April 16 said it suffered a net loss of Yuan 15.33 billion ($2.24 billion) in 2008, with declining revenues, high jet fuel costs and steep hedging losses pushing it into the red from a net profit of Yuan 354.18 million in 2007.Total earnings at China's third-largest airline dropped to Yuan 41.07 billion in 2008, from Yuan 42.53 billion a year ago, as a small improvement in the cargo sector was more than offset by a slump in passenger traffic revenues.