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China Eastern profitable, Shanghai Airlines not in 1H2009

20-Aug-2009

China Eastern and Shanghai Airlines reported a combined net profit of approximately USD157 million and an operating profit of USD216 million in 1H2009, driven by China Eastern’s fuel hedging gains and strong “non-operating” income. Combined revenues totalled USD3.3 billion. [2140 words]

Unlock the following content in this report:

Subheadings:

  • China Eastern profitable on exceptional items 
  • Yield weakness a concern for China Eastern
  • China Eastern load factors fall 
  • International pax and cargo demand remains weak, domestic growth a saviour
  • 15 new aircraft for China Eastern in 2H2009
  • Challenges ahead for China Eastern
  • To actively push ahead with its acquisition of Shanghai Airlines in 2H2009
  • Shanghai Airlines slips into the red in 1H2009
  • Outlook: Rough road ahead to recovery

Graphs and data:

  • China Eastern Airlines and Shanghai Airlines operating profit margin: 1H2008 vs 1H2009 
  • China Eastern Airlines and Shanghai Airlines net profit margin: 1H2008 vs 1H2009 
  • China Eastern Airlines financial highlights for six months ended 30-Jun-09 
  • China Eastern Airlines financial highlights for six months ended 30-Jun-09 
  • China Eastern Airlines traffic highlights for six months ended 30-Jun-09 
  • China Eastern Airlines fleet plan
  • Shanghai Airlines financial highlights for six months ended 30-Jun-09  (Chinese accounting standards)
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