China Eastern rose from the red to post a profit of US$144 million in the first half thanks to fuel hedging gains, the Financial Times reported. The profit came despite a 15.6% decrease in revenue, and compares with a loss of US$26 million in the first half of last year. Domestic travel increased 27% in the first half due to government stimulus, countering turnover losses of 38.3% on international routes and 22.3% on regional traffic, as well as a 44.7% fall in cargo sales. The airline expects continued economic growth and an increase in traffic during Shanghai’s upcoming 2010 World Expo to further spur the aviation market. China Eastern’s shares rose 1.7% on Tuesday in response to the news.
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