Southern Airlines Sets Foot in Delayed Flights Insurance

GUANGZHOU, Jun 20, 2008 (SinoCast via COMTEX) -- ZNH | Quote | Chart | News | PowerRating -- China Southern Airlines Company Limited (SHSE: 600029; SEHK: 1055; NYSE: ZNH), a leading air carrier in the country, has started selling electronic insurance products for air travel on the Internet, marking the first attempt to compensate delayed flights in the country.

The products were developed by the Guangzhou-headquartered airline, American International Underwriters Limited, an arm of American International Group, Inc. (AIG) (NYSE: AIG), and Air Union Insurance Brokers Co., Ltd.

As for delayed flights, passengers can get CNY 300 per person or the highest CNY 600 if their flights are postponed each four hours and they can get CNY 500 per person or the highest CNY 1,000 for their baggage for each eight-hour delay.

Passengers can get CNY 300 per person if their flights are canceled due to irresistible reasons. The premium remains CNY 20 per person. The air travel guarantee products also include compensation as highest as CNY 400,000 per person for accidents.

From dycj.ynet.com, Page 1, Thursday, June 19, 2008 info@SinoCast.Com

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