China Eastern Airlines, one of the country’s big three carriers, returned to profitability in the first half because of fuel-hedging gains, in spite of a fall of almost 16 per cent in revenue.
http://StockEinstein.com offers free daily stock alerts on companies ready to run. Scroll to the bottom of this page to signup for free stock alerts and visit our site.
The carrier, which last month announced its plan to acquire rival Shanghai Airlines for just under Rmb9bn ($1.3bn), said strong economic growth in China would boost the aviation market this year and that it would benefit from the World Expo to be held in Shanghai next year.
In the first half, China Eastern reported a net profit of Rmb984.7m, compared with a loss of Rmb175.3m in the same period last year. Revenues fell 15.6 per cent to Rmb16.17bn.
Like many of its peers, China Eastern benefited from a Rmb2.79bn profit from fuel option contracts in the first six months of this year after a rise in oil price.
StockEinstein.com has a dedicated team uncovering stocks ready to break and run. We apply time tested criteria and when one of these stocks meets or exceeds our benchmarks, our subscribers are immediately notified directly to their in-box.
This is a free service available only to our subscribers. Scroll to the bottom of this page to signup for free stock alerts and visit our site.
During 2009 our alerts have resulted in an average price gain of 80%+.
Disclaimer: Full disclaimer at http://StockEinstein.com/disclaimer.php
IMPORTANT: Never invest in any stock featured in any press release, email or website unless you can afford the loss of your entire investment. Stocks and particularly penny stocks have the possibility for dramatic gains, and also losses. Neither StockEinstein, nor any of its affiliates are registered investment advisors or broker dealers.
