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Airlines soar on strong traffic
By Winny Wang |
September 15, 2010, Wednesday
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Print Edition
Print Edition
SHARE prices of China's three largest airlines soared in Shanghai yesterday after they reported that passenger and cargo volume took off rapidly in August.
The outlook for the carriers looks bright as they can tap on the upcoming holidays, said Chu Hai, an analyst at Ping An Securities Co.
"International air demand will maintain a robust growth in September and October backed by the long holidays that will spur international trips," Chu said.
China Eastern Airlines, the country's second-largest carrier, yesterday said it flew 6.51 million passengers in August, a rise of 47.72 percent from a year earlier, and its load factor at 83.63 percent was the highest so far this year. The Shanghai-based airline also carried 119,560 tons of cargo, an annual jump of 49.17 percent, it said in an e-mailed statement.
China Eastern's shares rose 4.31 percent to 7.51 yuan yesterday while the benchmark Shanghai Composite Index was flat at 2,688.52.
Guangzhou-based China Southern Airlines, the country's largest carrier by fleet, carried 7.57 million passengers last month, up 16.7 percent from a year earlier, and its load factor hit 82.8 percent. It handled 987,300 tons of cargo, rising 29.6 percent from a year earlier, it said on its website. China Southern rose 5.55 percent yesterday to 7.99 yuan.
A total of 4.45 million passengers flew on Air China, the country's flagship international carrier and the third-largest, last month, a jump of 16 percent. Its load factor reached 84 percent. The Beijing-based carrier also carried 93,700 tons of cargo, an annual 12.2 percent growth. The carrier rose 3.12 percent yesterday to 12.22 yuan.
The outlook for the carriers looks bright as they can tap on the upcoming holidays, said Chu Hai, an analyst at Ping An Securities Co.
"International air demand will maintain a robust growth in September and October backed by the long holidays that will spur international trips," Chu said.
China Eastern Airlines, the country's second-largest carrier, yesterday said it flew 6.51 million passengers in August, a rise of 47.72 percent from a year earlier, and its load factor at 83.63 percent was the highest so far this year. The Shanghai-based airline also carried 119,560 tons of cargo, an annual jump of 49.17 percent, it said in an e-mailed statement.
China Eastern's shares rose 4.31 percent to 7.51 yuan yesterday while the benchmark Shanghai Composite Index was flat at 2,688.52.
Guangzhou-based China Southern Airlines, the country's largest carrier by fleet, carried 7.57 million passengers last month, up 16.7 percent from a year earlier, and its load factor hit 82.8 percent. It handled 987,300 tons of cargo, rising 29.6 percent from a year earlier, it said on its website. China Southern rose 5.55 percent yesterday to 7.99 yuan.
A total of 4.45 million passengers flew on Air China, the country's flagship international carrier and the third-largest, last month, a jump of 16 percent. Its load factor reached 84 percent. The Beijing-based carrier also carried 93,700 tons of cargo, an annual 12.2 percent growth. The carrier rose 3.12 percent yesterday to 12.22 yuan.
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