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China to cut fuel prices for airlines
Published on: -0001-11-30
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China plans to help its unprofitable airlines by lowering domestic fuel prices before the end of the year after oil prices tumbled 60%. The National Development and Reform Commission, China's top planning agency, is reviewing a proposed cut, Liu Shaocheng, head of research for the Civil Aviation Administration of China, told reporters on Wednesday. The country's airlines posted combined losses of 4.2 billion CNY (615 million USD) for the first 10 months of the year, Liu said.
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