Air China Ltd (Shanghai SE - 601111) - Feeling the effects of Cathay Pacific's travails

Its net profit dropped 39.8% to 1.5 billion yuan (US$72.8 million) in the 1st quarter, which was in part blamed on its investment losses of 141.6 billion yuan, the majority of which was from Cathay, of which it owns 29.99%.

With the removal of its Cathay stake from the figures, the company gross revenue rose an impressive of 9.8% in the 1st quarter, on the back of 7.8% passenger traffic year-on-year growth. 

Despite the concerns over Cathay, the airline's passenger traffic outlook remains solid given the resilient demand.

More details on the news, click below link :
Air China feeling the effects of Cathay Pacific’s travails 



Source :
1) www.scmp.com