No money in freight v 2
Air China selling their half of Air China Cargo - will be interesting to see if Cathay sells their half
Although the profitability of Air China Cargo improved in 2017, the improvement
was mainly due to the recovery of international transportation volume, cyclical rise
of freight rates, and substantial exchange rate gain from the appreciation of
Renminbi against US dollar. Given the complex international trade situation and the
expected weakening of Renminbi, the profitability has not been fundamentally
improved. Due to the extended period of poor performance, there is still a large
amount of losses to be covered. Therefore, disposing of Air China Cargo is the
concrete measure and reasonable choice for the Company to address the
uncertainties of the air cargo market, allowing the Company to enhance the
stability of its operations.