Taiwan's China Airlines posts record first half loss
Posted: 29 August 2008 1320 hrs

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TAIPEI: Taiwan carrier China Airlines on Friday announced a record net loss for the first half of this year, saying the spike in fuel prices was to blame.

The airline posted a net loss of NT$6.53 billion (US$207 million) for the six-month period, compared with a loss of NT$868 million a year earlier.

For the whole of 2007, the airline's net loss was NT$2.52 billion.

"Soaring fuel costs are impacting all airlines in the world and China Airlines cannot isolate itself from that," a company spokeswoman said.

"We have adopted a series of measures, cutting and suspending flights, in an attempt to alleviate the pressure," she said.

China Airlines has cut the number of flights by about 10 per cent a month from June and will suspend Taiwan-Seattle flights from September 1.

Senior vice president Roger Han said he still expected the company to reap some benefits from the introduction of direct flights between Taiwan and China in July, the first direct cross-Strait air links in six decades.

- AFP/yb