China's three biggest airlines face 8.5b yuan currency losses
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Hong Kong
CHINA'S three biggest airlines are poised to report losses totalling 8.5 billion yuan (S$1.73 billion) from currency swings this year as a weaker yuan proves a drag amid rising traffic and cheaper fuel. The silver lining: The losses are narrowing.
Flagship carrier Air China Ltd may face three billion yuan in foreign exchange losses while China Southern Airlines Co, Asia's biggest by passengers, is looking at a potential hit of four billion yuan and China Eastern Airlines Corp may lose about 1.5 billion yuan, according to Taipei-based Capital Securities Corp.
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