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China Eastern Airlines reports USD24.7 million profit in 2009

20-Apr-2010 9:11 AM
China Eastern Airlines reports (19-Apr-2010) the following financial/traffic highlights for the 12 months ended 31-Dec-2009, according to the international accounting standard:
  • Revenue: USD5,710 million, -5.1% year-on-year;
  • Operating costs: USD5,633 million, -32.3%;
    • Fuel: USD1,795 million, -33.7%;
  • Operating profit (loss): USD266.8 million, compared to a loss of USD2,209 million in the corresponding period last year;
  • Net profit (loss): USD24.7 million, compared to a loss of USD2,236 million in the corresponding period last year;
  • Passenger numbers: 44.0 million, +18.3%;
  • Passenger Yield per RPK: -12.9%, (primarily due to the decrease in fuel surcharges income);
  • Domestic: -11.5%;
  • International: -22.7%;
  • Hong Kong, Macau and Taiwan: -1.6%;
  • Cargo volume: 943,890 tonnes, +6.1%;
  • Cargo Yield per FTK: -24.4%.
  • Target 2010:
    • Passenger numbers: 67.1 million (including Shanghai Airlines)
    • Passenger load factor: 74.6%;
    • Cargo volume: 1.4 million tonnes;
    • Cargo load factor: 65.3%. [more]
China Eastern Airlines: "The Group expects an ongoing recovery of the global economy in 1H2010, in which Asian economies will take the lead in the global recovery. From the perspective of the industry, with the gradual recovery of the international market and the continual rise of the domestic market, it is anticipated that 2010 will witness the stabilisation and improvement of the international market, whilst the freight transportation market will see an overall recovery. From the perspective of the Group, there will be significant opportunities for the Group’s development, as the World Expo 2010 Shanghai is expected to draw customers to the Shanghai market; and the synergy resulting from the completion of the absorption of Shanghai Airlines by the Group," Company reports. Source: China Eastern Airlines, 19-Apr-2010.