China Eastern Air Holding revenue jumps 47% in 1H2010, targets breakeven in 2010

China Eastern Air Holding, parent company of China Eastern Airlines, reported (12-Jul-2010) a net profit of USD323.6 million for the six months ended 30-Jun-2010, on the back of a 46.5% year-on-year increase in revenues to USD5,183 million. The company also reported the following financial/operational highlights as of 30-Jun-2010:

• Revenue: USD5,183 million, +46.5% year-on-year;
• Net profit: USD323.6 million, n/a;
• Total assets: USD14,899 million;
• Fleet: 338 aircraft;
• Network: 153 destinations globally;
• Shanghai market share: 46.3%;
• Passenger numbers: 30.1 million, +44.9%;
• Cargo volume: 718,910 tonnes, +73.9%.

*Based on the conversion rate at USD1 = CNY6.83

Meanwhile, group Chairman, Liu Shaoyong, stated the group is targeting breakeven for its airline business this year and to generate a profit in 2011 (Shanghai Daily, 12-Jul-2010).