China Eastern Airlines (CEA.NYSE, 600115.SH, 0670.HK) posted a 79% jump in first-half profits due to a stronger renminbi, the acquisition of Shanghai Airlines and traffic from the Shanghai World Expo, Bloomberg reported. Net income at the country’s second-largest airline rose to US$259 million, up from US$144.9 million a year earlier. Sales increased 94% to US$4.87 billion. A stronger Chinese currency reduced the value of repatriated debts from purchasing imported aircraft from Boeing (BA.NYSE) and Airbus (EAD.EPA). Passenger and freight volumes also increased. China Eastern’s Hong Kong stock has risen 42% this year, compared with 49% for China Southern Airlines (ZNH.NYSE, 600029.SH, 1055.HK) and 37% for Air China (601111.SH, 0753.HK).
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