China Eastern Loses $2.2 Billion But Refuses To Consider Job Cuts
China Eastern Airlines says it lost ¥15.3 billion (US$2.2 billion) in 2008 but is refusing to consider job cuts as it seeks to reduce costs. The loss represented a colossal 37% of revenue and was blamed on weak demand and high fuel prices early in the year that were followed by unprofitable hedging...
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