My Account Menu

CAPA Login


Register to trial CAPA Membership!

China Eastern operating profit down 27% in 2011, expects challenging 2012

26-Mar-2012 10:37 AM

China Eastern Airlines revenue up 12% – financial highlights for 12 months ended 31-Dec-2011:

  • Revenue: CNY82,403 million (USD12,765 million), +11.7% year-on-year;
    • Passenger: CNY68,434 million (USD10,601 million), +16.1%;
    • Cargo: CNY8080 million (USD1252 million), -4.1%;
    • Domestic: CNY57,576 million (USD8934 million), +13.0%;
    • Hong Kong, Macau and Taiwan: CNY3771 million (USD584.2 million), -3.3%;
    • International: CNY22,528 million (USD3490 million), +12.7%;
  • Total operating costs: CNY79,292 million (USD12,283 million), +15.3%;
    • Fuel: CNY29,229 million (USD4528 million, +35.3%;
    • Labour: CNY8665 million (USD1342 million), -3.1%;
  • Operating profit: CNY4173 million (USD646.4 million), -26.8%;
  • Net profit: CNY4441 million (USD688.0 million), -10.1%;
  • Total assets: CNY114,739 million (USD17,774 million), +11.0%;
  • Cash and cash equivalents: CNY3861 million (USD598.1 million), +25.4%;
  • Total liabilities: CNY92,934 million (USD14,396 million), +7.1%);
  • Passenger numbers: 68.7 million, +5.8%;
    • Domestic: 58.8 million, +6.0%;
    • International: 7.2 million, +9.8%;
    • Regional: 2.7 million, -5.5%;
  • Passenger load factor: 78.9%, +0.9 ppt;
    • Domestic: 80.6%, +1.1 ppt;
    • International: 75.4%, +0.6 ppt;
    • Regional: 73.4%, +0.3 ppt;
  • Cargo volume: 1.4 million tonnes, -1.5%;
    • Domestic: 699,430 tonnes, -4.1%;
    • International: 626,260 tonnes, +1.5%;
    • Regional: 117,370 tonnes, -1.2%;
  • Cargo load factor: 61.8%, +1.4 ppt;
    • Domestic: 47.0%, -1.3 ppt;
    • International: 68.8%, +2.6 ppts;
    • Regional: 47.6%, -2.0 ppts;
  • Passenger yield: CNY 68 cents (USD 10.53 cents), +7.9%;
    • Domestic: CNY 69 cents (USD10.69 cents), +7.8%;
    • International: CNY 60 cents (USD 9.76 cents), +5.0%;
    • Regional: CNY 80 cents (USD12.55 cents), +3.9%;
  • Cargo yield: CNY1.83 (USD 28.35 cents), -6.2%;
    • Domestic: CNY1.44 (USD 22.31 cents), +12.5%;
    • International: CNY1.80 (USD 28.19 cents), -10.8%;
    • Regional: CNY4.50 (USD 69.55 cents), -1.1%;
  • Aircraft utilisation: 9.8 hours per day, +0.1 hours;
  • Employees: 59,872. [more – original PR]

China Eastern's board has not recommended any dividend for the year ended 31-Dec-2011. No dividend was recommended in 2010. [more - original PR]

*Based on the average conversion rate at USD1 = CNY6.4554 during the period

China Eastern Airlines: “In 2012, the aviation industry of the PRC is expected to face significant pressures as a result of complex and changing domestic and international operating environments, significant cost increases an general downturn in the global aviation industry. In addition, with the slowdown of the PRC economy, the domestic PRC aviation industry will be further affected. To counter these developments, the Group will seek to proactively implement its operational plans and promote the transformation of the Group to an integrated, modern aviation services provider, which it believes will improve operating results while maintain stability.” Source: Company statement, 25-Mar-2012.