Apr. 5 – Due to rising oil prices, Chinese airline companies have increased fuel surcharge fees for both domestic and international fights.
For domestic routes, the fuel surcharge fee has been increased by RMB10 per flight beginning April 5, 2012. After the adjustment, passengers are now subject to an RMB80 fuel surcharge for flights of less than 800 kilometers and RMB150 for longer routes, instead of the previous surcharges of RMB70 and RMB140. It is the second time that Chinese airlines have increased fuel surcharge fees for domestic flights since the beginning of March 2012. Continue reading
Oct. 19 – China’s CNR Corporation, a state-owned enterprise that manufactures trains, is having to issue RMB2 billion in one-year bonds in order to finance debt it is owed from the Ministry of Rail, according to the South China Morning Post.
CNR, who are listed in Shanghai, had a negative second quarter in 2011, resulting in an operating loss of RMB8.58 billion against a positive inflow of RMB905 million in the same period last year. The company has firmly left the situation at the door of the Ministry of Rail. Continue reading
Posted in Aviation, Economy and Politics, FDI and Foreign Trade, Shipping & Logistics
Tagged Air China, Boeing, China Aviation, China Debt, China Ministry of Rail, China Southern, CNR Corporation, Dreamliners, Hainan Airlines, Xiamen Airlines