Air Transport World

China National Aviation Co.

China National Aviation Co., the listed division of China's National Aviation Corp., which has a 43.3% stake in Hong Kong's Dragonair, reported a loss of HK$5.9 million ($766,000) for 1998, a sharp contrast to profits of HK$402 million in the previous year. The loss included a set-aside of HK$244.7 million to provide for the devaluation of investment properties. Additionally, CNAC was affected by the sluggish air traffic market. …

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