Airline's profit soars
By Ding Yining |
October 30, 2010, Saturday
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Print Edition
Print Edition
A merger with smaller rival Shanghai Airlines and the World Expo 2010 Shanghai boosted China Eastern Airlines' net profit 135 folds to 3.15 billion yuan (US$472 million) in the third quarter of this year.
Revenue for the Shanghai-based airline soared 91 percent on an annual basis to 21.8 billion yuan in the period.
The carrier carried 18.4 million people, up 52 percent, as it benefitted from the more than 70 million visitors to the six-month Expo.
"China Eastern's (ticket) prices will remain rather high in the fourth quarter as it has a fairly large market share in Shanghai, which will benefit the company's earnings in the next few months," China Jianyin Investment Securities' Li Fan wrote in a note.
Revenue for the Shanghai-based airline soared 91 percent on an annual basis to 21.8 billion yuan in the period.
The carrier carried 18.4 million people, up 52 percent, as it benefitted from the more than 70 million visitors to the six-month Expo.
"China Eastern's (ticket) prices will remain rather high in the fourth quarter as it has a fairly large market share in Shanghai, which will benefit the company's earnings in the next few months," China Jianyin Investment Securities' Li Fan wrote in a note.
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