China plans to lower domestic fuel prices before the end of the year, in an effort to help unprofitable airlines, Bloomberg reported. Liu Shaocheng, head of research for the Civil Aviation Administration of China, told reporters at a press conference in Beijing that the National Development and Reform Commission is currently reviewing the proposed cut. Lower fuel prices are expected to help carriers as they struggle with weakened demand caused by the slowing economy. China’s airlines posted combined losses of US$615 million for the first 10 months of the year.
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