24-Jul-2007 9:16 AM
China Eastern Airlines upgrades H1 forecast to profit instead of loss
Analysis
Beijing (XFN-ASIA) - China Eastern Airlines Corp Ltd (SHA 600115;
HK 0670; NYSE CEA), one of the country's three major airlines, said it now expects
to return to profitability in the first half due to an improvement in operating
profit and a stronger yuan.
At the time of its first quarter 2007 results announcement, the airline was still projecting a first half loss. In the first quarter it posted a net loss of 550 mln yuan.
In the first half of 2006, China Eastern reported a net loss of 1.46 bln yuan, or a loss per share of 0.30 yuan, under Chinese accounting standards.
The company is scheduled to release its first half results on Aug 30.