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Air China flying high
The U.S. airline industry might be flying on a wing and a financial prayer, but not so in China. AIR China is reporting an almost 150 percent increase in profits for the first quarter. The airline is carrying more passengers thanks to China's economic boom. The rising value of the yuan against the dollar is helping, too. That's because Air China pays for fuel in dollars. Profits might rise further as the company expects to get another boost from visitors flying in for the Beijing Olympics.
Posted by Lori Stassi on April 25, 2008 2:59 AM PT | Permalink
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