18 August 2019

Weaker renminbi hits Chinese airlines, paper says

Chinese airlines are said to have suffered 700 million yuan (US$112.6 million) of currency-related losses last month due to the depreciation of the renminbi, China Daily reported Thursday. That is in contrast to February last year, when the carriers reaped 100 million yuan of forex gains, it said. The renminbi depreciated 1.38 percent against the US dollar in February, the report noted.

– Contact HKEJ at [email protected]



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