CHINA: China Eastern in black, Shanghai Air sees red
China Eastern Airlines has returned to the black in the first half of 2009 with a net profit of CNY 1.174 billion (US$171.8 million), in a large part due to state subsidies and reduction of its losses from fuel hedging. On the contrary, Shanghai Airlines posted losses of CNY91.29 million. From January to June, weak […]
September 1, 2009
From January to June, weak domestic aviation demand saw China Eastern and Shanghai Air losing CNY 20.976 million and CNY 545 million respectively, from their core businesses.
As for the second half of this year, China Eastern is upbeat based on ChinaÃ¢â‚¬™s economic recovery along with an improving global economy. The carrier plans to successively introduce seven A320s, five B737-700s, and three B737- 800s from July to December 2009.