AIR CHINA FIRST-HALF PROFIT PLUNGES 77 PER CENT
Image : Bloomberg
Hong Kong : Air China Ltd. has become the latest major Chinese company to report a steep drop in first-half profit, as income plunged 77 per cent because of the slowing economy, heightened competition and rising jet fuel costs.
The carrier, one of China's three-state owned airlines, joins a number of other big Chinese companies, from oil companies to banks, that have been reporting unexpectedly sharp drops in profit.
The dismal reports, which follow a raft of profit warnings earlier this year from the airlines and other companies, add to pressure on Beijing to reverse a painful slump in the world's second-biggest economy.
14/09/2012 : The Economic Times.
No comments:
Post a Comment