China Eastern's 1H2009 revenue down 15.5%

China Eastern Airlines revenue down 15.5% - financial highlights for the six months ended 30-Jun-2009:

• Revenue: USD2,504 million, -15.5% year-on-year;
• Total operating costs: USD2,371 million, -25.1%;
  • Fuel: USD748.7 million, -40.9%;
  • Landing charges: USD390.8 million, +0.7%;
  • Labour: USD331.9 million, +11.9%;
• Operating profit: USD296.3 million, compared to a loss of USD144.6 million in the previous corresponding period;
• Net profit: USD144.0 million, compared to a loss of USD25.6 million in the previous corresponding period;
• Passenger numbers: 20.8 million, +14.8%;
  • Domestic: 17.9 million, +24.1%;
  • International: 2.0 million, -25.1%;
  • Regional: 938,380, -13.2%;
• Load factor: 60.5%, -2.3 ppts;
  • Passenger load factor: 70.8%, -0.3 ppt;
    • Domestic: 74.6%, -0.7 ppt;
    • International: 61.6%, -3.5 ppts;
    • Regional: 65.8%, +0.6 ppt;
• Breakeven load factor: 60.8%, -11.0 ppts;
• Cargo traffic (FTKs): -12.3%;
• Yield: USD 64.5 cents, -16.8%;
  • Passenger: USD 7.5 cents, -17.7%;
  • Cargo: USD 20.6 cents, -36.8%;
• Cost per ASK: USD 39.2 cents, -29.1%;
• *Based on the conversion rate at USD1 = CNY6.84

China Eastern: "It is expected that the GDP growth of China for the year would reach about 8% and China's economy would become the key pivot for the stability and recovery of the world's economy. The aviation market demand will be boosted under the economic transformation of the PRC, expansion in investment and encouraged consumption of China. The steps to make Shanghai an aviation hub together with the World Expo 2010 Shanghai which is drawing near, will create a lot of business opportunities which are precious to the development of the Group," Company statement. Source: China Eastern, 10-Aug-2009.