China Eastern parent's profit takes off in H1
By Winny Wang |
July 13, 2010, Tuesday
|
Print Edition
Print Edition
CHINA Eastern Air Group posted a jump in net profit to 2.21 billion yuan (US$326 million) in the first half of this year from 600 million yuan for the whole of last year as it tapped robust air demand.
Revenue for the group, parent of China Eastern Airlines, soared nearly 47 percent from the same period a year earlier to 35.4 billion yuan, it said in an e-mailed statement yesterday.
It targets to break even this year and generate profit next year for its aviation business, said Liu Shaoyong, chairman of the Shanghai-based group.
The airline flew 30 million passengers between January and June, a jump of almost 45 percent from a year earlier. It also carried 718,910 tons of cargo, a growth of 73.93 percent.
"The Shanghai World Expo is expected to generate 6 million passengers for domestic carriers from May to October, which will boost the country's air traffic growth by 3 percentage points," said Wu Li, an analyst at Guotai Junan Securities Co.
By the end of June, the group owned total assets of 101.76 billion yuan and operated 338 aircraft to 153 destinations globally.
Revenue for the group, parent of China Eastern Airlines, soared nearly 47 percent from the same period a year earlier to 35.4 billion yuan, it said in an e-mailed statement yesterday.
It targets to break even this year and generate profit next year for its aviation business, said Liu Shaoyong, chairman of the Shanghai-based group.
The airline flew 30 million passengers between January and June, a jump of almost 45 percent from a year earlier. It also carried 718,910 tons of cargo, a growth of 73.93 percent.
"The Shanghai World Expo is expected to generate 6 million passengers for domestic carriers from May to October, which will boost the country's air traffic growth by 3 percentage points," said Wu Li, an analyst at Guotai Junan Securities Co.
By the end of June, the group owned total assets of 101.76 billion yuan and operated 338 aircraft to 153 destinations globally.
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