EVA Air returns to profitability in 1H2010; Philippine Airlines profitable in Jun-2010 quarter

EVA Air shares gained 4.2% yesterday as the carrier reported a turnaround to profitability at the operating and net levels in the six months ended 30-Jun-2010. Operating and net profits stood at USD163.3 million and USD163.5 million, respectively, in the six-month period (compared with losses of USD69 million and USD53 million in 1H2009), as revenues increased 54% year-on-year to USD1,571 million, exceeding a 30.5% increase in operating costs to USD1,310 million.