5-Jan-2011 8:40 AM

China Eastern expects profit of USD817m in 2010

China Eastern Airlines stated (04-Jan-2011) the net profit attributable to the equity holders of China Eastern Airlines Corporation Limited for 2010 is expected to be "around 10 times as compared to the corresponding figure for the year 2009". In 2009, the net profit result was CNY540 million (USD81.7 million) or CNY0.0839 (USD 1.27 cents) per share. The carrier attributed the improved results to the following:

  • Improving market conditions: The air transportation market has been "recovering rapidly and continued to grow" in 2010 in particular in China which continued to "grow rapidly" in 2010; 
  • Shanghai Airlines: The gradual effect of the synergy brought by the absorption of Shanghai Airlines by the company;
  • World Expo: There was a substantial growth in passenger traffic for Shanghai’s passenger transportation market due to the World Expo held in Shanghai;
  • Operational efficiencies: The company stated it has seen a "continual improvement and enhancement of its operations and management standards, which has fostered steady growth of its operational efficiency". [more]

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