Indian airline shares bounce back, Chinese carriers watch fuel, ANA traffic surges
Boeing confirmed that it would commence deliveries of B787s to All Nippon Airways Co in 3Q2011, in-line with the updated B787 production schedule. ANA Group reported the following international traffic highlights in Jan-2011:
- Passenger load factor: 69.4%;
China Eastern Airlines deputy GM Li Jun stated the uptrend in fuel costs will "definitely weigh" on the carrier's costs, although the airline still expects to be profitable. Air China's chairman Kong Dong has acknowledged high oil prices will have an effect on the carrier's bottom line, but stated he remains optimistic about the carrier's profitability in 2011. The chairman said "things will be under control as long as the travel flow keeps coming".
EVA Air reported a 1.9% year-on-year decline in sales revenue* to USD242.6 million in Feb-2011. For the first two months of 2011, the carrier’s sales revenue increased 6.1% to USD536.1 million. Major Taiwanese competitor, China Airlines reported a 7.5% year-on-year decline in sales revenue to USD313.5 million in Feb-2011. For the first two months of 2011, the carrier’s sales revenue increased 1.3% to USD688.8 million.
* Based on the conversion rate USD1 = TWD29.42
Selected APAD daily share price movements (% change): 08-Mar-2011