Air China: Olympic gold turns to dust

Sunday, 19 Jan, 2009 0

BEIJING – Flag carrier Air China says it expects to post a ”significant loss” for 2008 due to shrinking passenger numbers and misjudged fuel hedging contracts.

The announcement to the Shanghai Stock Exchange, reported by AFP, marked a disappointing result on what was supposed to be a banner year for Air China after it was named the sole airline sponsor of the Beijing Olympics and joined the Star Alliance group of carriers.

Air China attributed the falling demand to the financial crisis, but added the Sichuan earthquake in May and restrictions on air travel during the Olympics had also played a role.

Losses on as-yet unrealised fuel hedging contracts would also impact strongly on the 2008 result, the airline said.



 

profileimage

Ian Jarrett



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...