17-Mar-2010 11:56 AM
China Eastern advances on strong traffic
Analysis
China Eastern Airlines' shares rose 1.9% yesterday as the carrier revealed a 14.7% jump in Feb-2010 passenger numbers.
Summary
- 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
Source: Centre for Asia Pacific Aviation & Reuters