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• Disappointing 2008 Results Expected For China’s Airlines - Editor, 19 January 2009

Citing shrinking passenger numbers and miscalculated fuel hedging contracts as primary reasons, China’s flag carrier Air China has revealed that it anticipates posting a significant loss for 2008. The announcement was made to the Shanghai Stock Exchange before the market opened for trading on Monday, although final audited results will only be released in April. This announcement proved to be especially disappointing in light of the fact that Air China was named as the sole airline sponsor of the 2008 Olympics held in Beijing, as well as joining the Star Alliance group of international air carriers during the year and therefore had expectations for a bumper year.