China Airlines narrows 2009 losses to NT$3.8bn

Singapore
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Taiwan's China Airlines (CAL) narrowed its losses in 2009, posting a full-year net loss of NT$3.8 billion ($119 million) despite returning to profit in its last quarter.

This is an improvement of NT$28.5 billion over the NT$32.4 billion net loss the carrier posted in 2008.

Operating revenue fell 18% to NT$102.8 billion from a year ago, while operating costs and expenses fell 23% to NT$104.5 billion, says the airline.

CAL reported a net profit of NT$1.2 billion in its last quarter, returning to profit after posting straight losses in the first three quarters.

Looking ahead, the carrier says it expects recovery to continue in the passenger and freight markets. It has launched a non-stop service to London Heathrow and has added extra capacity on its Miyazaki route, it adds.