Chinese airlines plan stricter cost control

Airlines in China, the world’s second-biggest aviation market, plan to exercise stricter control over their costs and debt structures as part of measures to cope with a weaker yuan and stiffer competition. China Eastern Airlines Corp will strengthen research on oil prices and exchange rates, the carrier said on Tuesday, a day after China Southern Airlines Co said it will consider hedging for fuel. Air China Ltd is transforming its business model in response to “intensified industry competition,” it said on Tuesday.