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 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 … [Read more...] about CHINA: China Eastern in black, Shanghai Air sees red
Shanghai Air
CHINA: China Eastern take over of Shanghai Air nearing
China Eastern Airlines (CEA) has proposed to takeover Shanghai Airlines through a share swap, according to a Dow Jones report citing an un-named source. If successful, the move would finalise what has been a long drawn-out negotiation over how best to merge the two struggling airlines and is part of Beijing’s plan to consolidate the aviation industry, in particular the airlines, which are plagued by operational inefficiencies and debilitating price wars due to the plethora of small … [Read more...] about CHINA: China Eastern take over of Shanghai Air nearing
