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China Eastern Airlines posts 9.18% drop in 2011 net profit

Mar. 26, 2012 (China Knowledge) - China Eastern Airlines Co Ltd<600115><0670>, the country's third-largest carrier, has announced that its net profit fell 9.18% year on year to RMB 4.89 billion last year, due to slowing demand amid uncertainties in the global economy.

Basic earnings per share were RMB 0.43 last year, and no dividend was declared for 2011.

The air carrier's revenue rose 12% year on year to RMB 83.98 billion in 2011, of which RMB 78.68 billion was generated by transportation business, up 14.1% year on year.

In 2011, the company's air passenger volume climbed 5.9% to 68.73 million from 64.93 million in 2010, and passenger load factor rose 0.91 percentage points year on year to 78.89%.

Cargo and mail throughput fell 1.49% year on year to 1.44 million metric tons in the period, and cargo load factor grew 1.44 percentage points to 61.81%.

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