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Merger, Expo boost China Eastern profits
By Ding Yining |
October 29, 2010, Friday
|
Online Edition
Online Edition
CHINA Eastern Airlines said profit in the third quarter surged 135-fold to 3.15 billion yuan (US$472 million) after it merged smaller rival Shanghai Airlines and Shanghai Expo also boosted its income.
Revenue surged 91 percent year on year to 21.8 billion yuan.
Its passenger number soared 52 percent to 18.4 million as more than 70 million people visited the Shanghai Expo.
China Eastern operates 338 planes, which serve 105 domestic cities and 47 international ones.
Net income of Air China, one of China Eastern's biggest competitors, also leaped more than fivefold to 5.2 billion yuan in the quarter as air travel demand rebounded, the airliner said late yesterday.
Its passenger volume grew 19 percent to 12.8 million in the three months ended September 30.
Revenue surged 91 percent year on year to 21.8 billion yuan.
Its passenger number soared 52 percent to 18.4 million as more than 70 million people visited the Shanghai Expo.
China Eastern operates 338 planes, which serve 105 domestic cities and 47 international ones.
Net income of Air China, one of China Eastern's biggest competitors, also leaped more than fivefold to 5.2 billion yuan in the quarter as air travel demand rebounded, the airliner said late yesterday.
Its passenger volume grew 19 percent to 12.8 million in the three months ended September 30.
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