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Kong Dong: civil aviation industry has a high degree of market
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Air China profits to foreign airlines envy Beijing News: Compared with last year, this year's economic situation and the civil aviation market has changed? Kong Dong: 2010 must have passed, we had also worried that the market this year, because the airline industry in 2009 is the real winter "freezing" extraordinary, many foreign airlines went bankrupt, we are not beginning of the year determine whether the second bottom, the world economy. However, our happiness, civil aviation, after the difficulties after the economic crisis and embark on a rapid development stage, although the data have not seen two months of this year, but the whole civil aviation industry has emerged an increase of 15% -16% I expected more than 16% this year, no problem, passenger transport volume will reach 2.3 million. This year, Air China exceeded billion profit for the first time, a record high. The rapid growth of China's civil aviation market to foreign airlines envy. Not long ago, I asked United Airlines CEO dinner, and asked him again, and they end the third quarter, gross profit of $ 500,000,000, the United States mainland about 300 million U.S. dollars, but they are two of a total of seven or eight hundred aircraft, two of our times. Beijing News: Air is more profitable than the foreign market, in addition to the reasons, what factors? Kong Dong: I think in terms of cost control, China's aviation enterprises over them, than they are due to low labor costs in China, Air China's human cost of the total cost of 12% - 13%, 20% foreign airlines more than basic. Not only Air China, China Southern and China Eastern's earnings this year, is also very good, in addition to the outbreak of market demand, there are special reasons, that is, the pulling effect of the World Expo. IATA worldwide this year, adjusted earnings expectations three times, in which Chinese airlines will account for half of the global profit margin this year, the world's most beautiful growth in China. In short, I outlined the "people work hard, day to help." Jet fuel hedging is a painful experience Beijing News: How do last year, jet fuel hedging controversial Fukui? Kong Dong: over time look at some historical events, will come to different conclusions. But then my boss, investors, the SASAC, the State Council have shocked the second half of 2008 to the first half of 2009, all of a sudden there's more than 70 million Fukui, of course, have now returned, as international oil prices rise, there is now floating profit, but a great lesson for us is still my "painful experience", the central enterprises should be more rationally face the financial instruments. I think the lesson is that there is a limit to the risk, if we can be more rational understanding of financial instruments and the ability to control better, at least not lose so badly, so if we now do fuel hedging, will much smarter, Air or fuel hedging to do, not because of disadvantage is not done, but now understand it more, its benefits and risks are understood, and this is my reflection. Beijing News: China Airlines and foreign airlines, where competition is mainly the gap? Is the brand? Kong Dong: Brand is a problem, but the formation of the brand is not one or two days to complete, and require long-term market cultivation, if the metaphor of the hotel, I think Air China 4 star hotels to go to the effort, 5 stars may be SIA ( Singapore Airlines), we are somewhat less certain, this year the first international flight of Air China the amount of total earnings higher than the international, but the level of returns than domestic routes. A big impact on the Air China A380 Beijing News: Many foreign airlines used to fly the Airbus A380 departing Beijing on Air China's international flights have hit? Air China did not buy the A380 is the wrong model? Kong Dong: Air can not say the wrong model, not a lot of good companies to buy A380, of course it has its own advantages, such as with the A380, Lufthansa flies to Beijing on Air China of course has a great impact, but the needs and the introduction of models ability to match their operations, in other words, people can hit the jackpot with this, you will not be filled with a not necessarily, the domestic airlines do not have the operating capacity. I think that the domestic airlines operating from the 500-seat A380 is very difficult, Air China had losses in the U.S. and Europe each year 50000000-1 million people make money, we may not be able to make money, I do not think that Air China is wise to buy the aircraft, In the international routes, or should provide more frequencies to meet the needs of business people. Beijing News: China Southern Airlines to introduce A380 next year, if that also fly to Beijing, Air China will put pressure on it? Kong Dong: China Southern Airlines set to fly this plane where, I think we also need to discuss the Civil Aviation Authority has the right to the relevant provisions of freedom, a country and a national air transport agreement to be on the other, which fell upon the carrier also need to apply for and hearing. In addition, we do not fear the competition, A380 is compatible with what the airport, this is a problem in these restrictions, China Southern Airlines will fly any route is unknown. Beijing News: But Airbus A380 explained aspects of the compatibility of the airport is very strong, there is this problem? Kong Dong: is not the case, and the aircraft requirements of the problem is not just the runway, as well as supporting facilities, such as luggage carts and more. Yichun exposure to the industry short-board crash Beijing News: Yichun crash, the Henan Airlines has suspended more than 2 months, as Air China's Shenzhen Airlines, a subsidiary, Henan how the future of aviation? Kong Dong: This depends on the Shenzhen Airlines and the Henan provincial government to communicate the results. Of course, the accident is still under investigation, the results did not come out, the question you ask is very anxious Henan Provincial Government, whether they have missed the conditions needed for approval. Beijing News: The current aviation safety management is able to keep up with changing market demands? Kong Dong: Civil Aviation of China does not exclude a variety of different types of economies to develop the aviation industry, but there must be a major force on behalf of the State against foreign airlines, so in that sense, I think the crash has exposed the industry's short board, capacity and management skills do not match, is not suited to objective reality, the small company a more profit-driven, it sounded the warning bell to the whole industry. Beijing News: Private capital and private enterprises for economic development and contribution to the pulling all to see, but in civil aviation is an exception, why? Kong Dong: China's civil aviation market is already very high degree, the private aviation industry is not could not handle, because air is economies of scale.
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