Air China Records Sharp Passenger Drop
Air China recorded the biggest monthly fall in passenger numbers since 2003, state media reports. In August, the carrier served 2.77 million passengers, 16.6 per cent less year-on-year. It is the sharpest decline since the outbreak of SARS in 2003. The load factor for August fell 13 per cent, to 71.1 per cent. The Olympics are to blame, state media say, with tightened visa regulations and a cut in flights to Beijing for security reasons singled out as major reasons for the
drop, though slower travel demand is affecting all global airlines.
China Appeals WTO Car Parts Ruling
The World Trade Organisation in Geneva confirmed that China has appealed against a ruling that its tariff system for imports of auto parts violates global commerce rules, Bloomberg reports. "China cannot fully agree with the legal explanations and verdict of the expert panel," said a statement from the Chinese WTO mission. The United States, European Union and Canada complained that Chinese tax measures on imported auto parts result in unfair competition. State media quotes Chinese officials as saying that the measure is necessary to "keep lawbreakers away" and "protect consumer interests."
Related stories:
Air China Orders Boeing Aircraft
http://www.bizchina-update.com/content/view/1103/2/
WTO Rules Against Chinese Autopart Tariffs
http://www.bizchina-update.com/content/view/1116/2/
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