Rochester, NY 8/4/2009 8:53:04 PM
China South Air Ltd, ZNH - Escape Aircraft Orders as Possible
CHINA SOUTH AIR LTD
CHINA SOUTH AIR LTD, ZNH
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Chinese airlines are on course to lose big this year. Beijing injected 3 billion yuan ($437.0 million) in November into China Southern Airlines, which Wang expects to post a loss of nearly 1 billion yuan ($145.7 million) for 2008.
Wang and Lau expect China Eastern Airlines to get a similar government aid package--Wang estimates it is on track to post a loss of over 3 billion yuan ($437.0 million) for the year. Air China is in the best shape of the three big Chinese airlines and may get by without aid.
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