China Eastern sees doubled 1st-half net profits
Updated: 2007-09-02 11:50
China Eastern Airlines, a leading air carrier in the country, realized 58.21 million yuan (US$7.7 million) in net profits in the first half of this year, up 104.36 percent over the same period of last year, according to the company's interim report.
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China Eastern's revenue for the six months amounted to 18.8 billion yuan, up 14.23 percent.
Zhang Wenyou, assistant to the company's general manager, attributed the impressive performance to effective marketing, improved management and stricter cost control.
The Shanghai-listed company achieved a record daily aircraft utility ratio of 9.8 hours in the January-June period, which contributed significantly to cost reduction and profit growth.
Meanwhile, the company cut oil consumption by 2.6 percent on average, the interim report said.
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