Asian airlines post losses

November 17, 2008 by SwizStick  
Filed under Air Cargo, Airlines

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And the economic hits just keep-a-comin’. Via AirCargoNews:

Korean Air Lines has recorded its largest loss in ten years: 684.1 billion won (US$493 million) in the three months ending in September. South Korea’s largest carrier blamed the high cost of fuel, which increased 64 per cent from the same quarter last year, and a weak won.
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Asiana Air, South Korea’s second-biggest carrier, Air China, China Southern Airlines, and China Eastern Airlines, the country’s three biggest airlines, and Jet Airways (India) also all reported losses in the same quarter. The Centre for Asia Pacific Aviation predicted that none of the Asian airlines will bring in a profit next year due to the global economic crisis.

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