China Eastern advances on strong traffic
China Eastern Airlines’ shares rose 1.9% yesterday as the carrier revealed a 14.7% jump in Feb-2010 passenger numbers.
Traffic highlights, as reported in Asia Pacific Airline Daily, included:
- Passenger numbers: 3.7 million, +14.7% year-on-year;
- Domestic: 3.1 million, +10.1%;
- International: 454,630, +51.9%;
- Regional: 174,950, +25.9%;
- Passenger load factor: 75.6%, +3.5 ppts;
- Domestic: 76.4%, -0.8 ppt;
- International: 74.1%, +14.1 ppts;
- Regional: 73.2%, +9.0 ppts;
- Cargo volume: 73,790 tonnes, +27.4%.
Chinese shares rebounded on Tuesday, off five-week lows, on renewed confidence about the local housing market. Airline stocks also rose as oil prices eased below USD80 per barrel (although they have jumped back up overnight) and a stronger local currency. Hainan Airlines rose 2.1%, while Air China added 0.1%. China Southern eased 0.9%.
Asia Pacific selected airlines daily share price movements (% change): 16-Mar-2010