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Two Jetstar Pacific Airlines executive held in Vietnam to explain fuel hedging losses
January 8, 2010 — Jetstar Pacific Airlines
Jetstar Pacific Airlines (formerly Pacific Airlines) (Ho Chi Minh City) meanwhile is having its own problems in Vietnam. Two airline executives are being detained to explain the company’s financial losses of $31 million due to fuel hedging! In addition their ex-boss has been arrested in Hanoi for his part in the airline’s losses (if you are an airline executive in Vietnam, don’t lose any money). QANTAS Airways controls 27 percent of the stock.
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