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China Eastern's revenue doubles in 1H2010

30-Aug-2010 10:42 AM

China Eastern Airlines revenue doubles – financial highlights for the six months ended 30-Jun-2010:

  • Revenue*: USD4,847 million, +93.4% year-on-year;
  • Operating costs: USD4,522 million, -1+90.6%;
    • Fuel: USD1,466 million, +95.6%;
    • Labour: USD512.8 million, +54.4%;
  • Operating profit: USD371.7 million, +25.4%;
  • Net profit: USD248.3 million, +63.0%;
  • Passenger numbers: 30.1 million, +44.9%;
    • Domestic: 25.8 million, +44.0%;
    • International: 3.0 million, +54.3%;
    • Regional: 1.3 million, +41.5%;
  • Passenger load factor: 75.8%;
  • Passenger yield: USD 8.78 cents, +17.6%;
    • Domestic: 8.92 cents, +22.0%;
    • International: USD 8.34 cents, +9.6%;
    • Regional: USD 11.12 cents, +26.7%;
  • Net operating cash flow: USD705.4 million, compared with a negative cash flow of USD82.4 million in p-c-p;
  • Net assets: USD14,935 million, +42.1% when compared with period ended 31-Dec-2009;
  • Cash and cash equivalents: USD652.7 million, 157.1% when compared with period ended 31-Dec-2009;
  • Total liabilities: USD13,357 million, +30.1% when compared with period ended 31-Dec-2009. [more]

*Based on the average conversion rate at USD1 = CNY6.83474 during the reporting period

China Eastern Airlines: “The company considers that the global economy is gradually recovering and the foundation for performance of the PRC economy is further strengthening and contributing to the stable development of the economy. With the recovery in the demand for air transportation, the civil aviation market of the PRC is expected to grow at an accelerated pace. In the second half of 2010, the company will grasp the favourable opportunity brought by the high season of the market as well as the Shanghai World Expo. We will optimise our market allocation, strengthen cost control and enhance our operating capability to strive for better profitability,” Company statement. Source: China Eastern Airlines, 29-Aug-2010.