皇冠体育app

Economy

Markets

Industries

Insights

Reports

Events

Air 皇冠体育app says uncertain of 2009 profit

(Agencies)
Updated: 2009-03-02 18:58

Air 皇冠体育app Chairman Kong Dong said on Monday it was uncertain whether the country's flag carrier could turn a profit in 2009 and the time was not right for large airline acquisitions in 皇冠体育app.

"I can't be certain of profit this year," Kong said.

Related readings:  Air 皇冠体育app reports $454m of fuel hedging loss by October  Air 皇冠体育app's third quarter loss hits 1.94b yuan  Air 皇冠体育app H1 net profit down 1.38%

The aviation industry is going through its worst winter and there was no sign of improvement in the global economic situation, he told reporters in a briefing.

皇冠体育app Eastern Airlines, 皇冠体育app Southern Airlines and Air 皇冠体育app are the country's three biggest carriers and have all warned of losses for 2008 due to slowing air traffic amid the global recession.

The airlines are seeking government aid, sources said, but 皇冠体育app Eastern's chairman said that a major restructuring of the industry was unlikely any time soon.

皇冠体育app National Aviation Holding Company, State-owned parent of Air 皇冠体育app, hopes to receive government aid but the group can survive without aid, said Kong, who is also the president of the parent firm.