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.

  • China Eastern Airlines reported a 14.7% increase in passenger numbers for February 2010.
  • Domestic passenger numbers grew by 10.1%, while international and regional passenger numbers saw significant growth of 51.9% and 25.9% respectively.
  • The passenger load factor for China Eastern Airlines increased by 3.5 percentage points to 75.6%.
  • Cargo volume for the airline also rose by 27.4%.
  • Chinese shares rebounded on the back of renewed confidence in the local housing market and lower oil prices.
  • Other Chinese airlines, such as Hainan Airlines and Air China, also experienced stock price increases.

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

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More