Air Macau faces financial crisis - USD26 million loss in first five months

Air Macau has reportedly generated USD26 million in losses in the first five months of 2008. Macau law requires the carrier to seek fresh funding or declare bankruptcy if losses exceed 50% of registered capital, which currently is the case. [428 words]

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This report contains the following subheadings:

• Passenger traffic down 17.3% in May
• Air China preparing to inject fresh capital
• Challenged by introduction of direct cross-Strait services

This report contains the following charts and tables:

• Air Macau passenger numbers vs cargo volume growth: % change year-on-year Jan-07 to May-08