When Cathay Pacific announced a sharp fall in revenue it was assumed that the big three Chinese carriers would be showing a boost in their results after winning out a number of key battles, where possible investors had moved in on the Chinese big three expecting a quick gain. Alas, only one of the big three is even partially on-form. China Southern posted a 30% rise in earnings for the 2016/17 fiscal year, while China Eastern showed a 0.7% decline in earnings and Air China reporting a 0.6% rise. These figures come at a time when just about every analyst

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