What Happened
Higher Fuel Costs Drag Down Air China, China Eastern, and China Southern
China’s three largest carriers, Air China, China Eastern Airlines, and China Southern Airlines, are expecting heavy losses for the first half of the year due to significantly higher fuel costs. Despite being profitable in the first quarter, the airlines are struggling to recover from the substantial spike in fuel costs. The latest forecasts suggest that net losses for the January-June period will be steeper than in the year-ago period. This was reported by FlightGlobal.