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China Eastern returns to profit
By Winny Wang |
March 26, 2010, Friday
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Online Edition
Online Edition
CHINA Eastern Air Group's main business was profitable in the first two months of this year, for the first time since it lost 14 billion yuan during the financial crisis in 2008.
The group, parent of China Eastern Airlines, made 9.29 billion yuan in revenue from its main business through February, rising 30 percent from a year earlier, and 167 million yuan in profit, according to the carrier's chairman Liu Shaoyong.
"China Eastern is expected to have a prosperous development this year bolstered by the World Expo," Liu said during vice transport minister Li Shenglin's visit to the carrier yesterday.
The Shanghai-based airline carried 7.23 million passengers in the two months, rising 11.86 percent from a year earlier, including a 51.92 percent increase on international passenger traffic, and its cargo volume rose 49.7 percent to 168,200 tons.
The group was expected to generate 42.4 billion yuan in sales revenue and 600 million yuan in net profit last year year, but the profit was largely boosted by fuel hedging gains rather than its aviation business.
The group, parent of China Eastern Airlines, made 9.29 billion yuan in revenue from its main business through February, rising 30 percent from a year earlier, and 167 million yuan in profit, according to the carrier's chairman Liu Shaoyong.
"China Eastern is expected to have a prosperous development this year bolstered by the World Expo," Liu said during vice transport minister Li Shenglin's visit to the carrier yesterday.
The Shanghai-based airline carried 7.23 million passengers in the two months, rising 11.86 percent from a year earlier, including a 51.92 percent increase on international passenger traffic, and its cargo volume rose 49.7 percent to 168,200 tons.
The group was expected to generate 42.4 billion yuan in sales revenue and 600 million yuan in net profit last year year, but the profit was largely boosted by fuel hedging gains rather than its aviation business.
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