USEUROPEAFRICAASIA 中文双语Français
Home / Business

Domestic airlines could face financial turbulence

By Wang Wen | China Daily | Updated: 2015-08-27 07:53

Major Chinese airlines face a turbulent time with a weaker yuan trimming profits.

Even though the air traffic market is still strong, industry experts are predicting a bumpy ride ahead for the country's big three carriers.

"The three largest carriers in China could lose between 2 billion ($312 million) and 4 billion yuan each in net profit this year after the rate of the yuan (to the US dollar) dropped this year," Geoffrey Cheng, head of transportation and industrial research at BOCOM International, which is part of the Bank of Communications Co, said. "But this year's decline in fuel prices will help counteract the carriers' exchange loses."

Domestic airlines could face financial turbulence

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US