China Eastern sees massive surge in profit

first_imgChina Eastern Airlines is banking on its net profit for 2010 to exceed the previous year’s figures by almost ten times.The airline’s 2009 net profit was US$81.7 million, with expectations for 2010 exceeding US$800 million.The airline cited growth in domestic passenger travel as one of the primary influences for the surge in profits.“The air transportation market has been recovering rapidly and continued to grow in 2010. “In particular, the air transportation market of the People’s Republic of China has continued to grow rapidly,” the airline said in a statement released on the Shanghai Stock Exchange.In addition to increased domestic travel, the soaring profits were also attributed to the acquisition of smaller rival Shanghai Airlines and the World Expo in Shanghai last year, according to the statement. China Eastern Airlines Source = e-Travel Blackboard: P.Tlast_img read more