Air China’s net profit drops 39.8% to 1.5 billion yuan in the first quarter, which was in part blamed on its investment losses of 141.6 million yuan – the majority was from Cathay Pacific, of which it owns 29.99 per cent. Cathay itself expectedly swung into loss of HK$575 million (US$73.8 million) in 2016 and has projected just as turbulent times ahead this year. Cathay Pacific and Cathay Dragon carried a combined 2,851,661 passengers in March, 3.7 per cent fewer than March last year. If you take the Cathay stake out of Air China’s figures, its gross revenue rose 9.8

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