Air China is confident of better times ahead this year, after it recently returned to profits and signalled an emphasis on its cargo business and a partnership with Cathay Pacific.
The carrier also says it remains on the lookout for domestic and overseas acquisitions, but will be “cautious” to move due to local laws and unions.
“The past year of 2009 was the most difficult year, not just for us but for all airlines worldwide,” said Kong Dong, Air China Chairman, according several local reports.
“I believe our financial performance will be better than last year for sure… We will look for acquisition opportunities abroad. But top concerns are local laws and unions, so we must be very cautious.”
Late last month, Air China and Cathay Pacific set up an air-cargo joint venture in China and will make use of Air China Cargo’s existing operations as a platform for growth.
Source eTB