Air China reports loss of $1.4 billion for 2008

摘要

Hong Kong-Chinese flag carrier Air China April 17 reported a net loss of Yuan 9.3 billion ($1.36 billion) for 2008 under international accounting standards, citing weakened demand, higher jet fuel costs and misjudged fuel-hedging contracts.Other factors, including heightened security surrounding the Beijing Olympics, massive snowstorms in China early last year and the May earthquake in the southwest of the country also hit the carrier's performance, it said.