Airline targets 588 jets in fleet
By Winny Wang |
March 8, 2011, Tuesday
|
Print Edition
Print Edition
CHINA Eastern Airlines plans to expand its fleet size to 588 jets and reduce its debt ratio to 70 percent during the 12th Five Year Plan period from 2011 to 2015, its chairman said yesterday.
The country's second-biggest airline expects 531 passenger planes and 30 freighters in its fleet by 2015, chairman Liu Shaoyong told reporters on the sidelines of the National People's Congress yesterday.
The Shanghai-based carrier also eyes increasing passenger volume by 10.2 percent and total turnover by 12.1 percent annually during the five years, he added. The airline will invest 2 billion yuan (US$305 million) in information infrastructure by 2015 to stay competitive and attract more passengers, he said.
The airline will reduce its debt ratio to 70 percent from 85 percent by 2015, Liu said. He added that there is no timetable for the airline to introduce strategic investors.
Last year, domestic airlines earned a combined profit of 35.1 billion yuan as they tapped major events, including the Shanghai Expo and the Guangzhou Asian Games. Their profits accounted for 60 percent of global airlines' net earnings.
But Liu said domestic airlines may not earn as much as last year in 2011 as rising fuel costs will hurt them.
He proposed to the NPC that the government set up a unified and efficient air space management system for civil and military aviation.
The country's second-biggest airline expects 531 passenger planes and 30 freighters in its fleet by 2015, chairman Liu Shaoyong told reporters on the sidelines of the National People's Congress yesterday.
The Shanghai-based carrier also eyes increasing passenger volume by 10.2 percent and total turnover by 12.1 percent annually during the five years, he added. The airline will invest 2 billion yuan (US$305 million) in information infrastructure by 2015 to stay competitive and attract more passengers, he said.
The airline will reduce its debt ratio to 70 percent from 85 percent by 2015, Liu said. He added that there is no timetable for the airline to introduce strategic investors.
Last year, domestic airlines earned a combined profit of 35.1 billion yuan as they tapped major events, including the Shanghai Expo and the Guangzhou Asian Games. Their profits accounted for 60 percent of global airlines' net earnings.
But Liu said domestic airlines may not earn as much as last year in 2011 as rising fuel costs will hurt them.
He proposed to the NPC that the government set up a unified and efficient air space management system for civil and military aviation.
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