Airline Finance News - Asia / Pacific.Jul 30, 2007 Air China, China Southern Airlines China Southern Airlines (中国南方航空公司) (SEHK: 1055, NYSE: ZNH) is an airline based in Guangzhou in the Guangdong province of the People's Republic of China. , China Eastern Airlines China Eastern Airlines Corporation Limited (Simplified Chinese: 中国东方航空股份有限公司) (SSE: B>600115 Air China, China Southern Airlines and China Eastern Airlines expect to post first-half profits thanks largely to "continuous growth of the domestic market" and the appreciation of the yuan. China Southern yesterday said it expected a reversal from its CNY CNY In currencies, this is the abbreviation for the China Renminbi. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 835 million ($110.4 million) loss in the year-ago semester, while earlier this week Air China said in a filing with the Shanghai Stock Exchange Shanghai Stock Exchange One of two major securities markets in China. that it expected to report a profit more than 20 times greater than the CNY45.8 million earned in the first six months of 2006. China Eastern is expecting to return to the black following a CNY40 million loss in the 2006 first half. Jul 27, 2007 Asiana Airlines Asiana Airlines earned a profit of KRW KRW In currencies, this is the abbreviation for the Korean Won. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 38 billion ($41.5 million) in the second quarter, up from a KRW15 billion profit in the year-ago period, thanks to investment gains and the appreciation of the won, according to a regulatory filing cited by the Antara news agency. Revenue rose 2.1% year-over-year to KRW861 billion but operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. dropped 7.2% to KRW20 billion. Jul 26, 2007 China Eastern Airlines China Eastern Airlines, announces that, following a request made by the Company to the Stock Exchange of Hong Kong Stock Exchange of Hong Kong (SEHK) Only stock exchange located in Hong Kong. Limited, trading in its H shares has been suspended with effect from 9:47 a.m. on May 22, 2007 pending the release of an announcement of the Company, the nature of which is price-sensitive. Jul 27, 2007 China Eastern Airlines China Eastern said it expected to make a profit for the first half of 2007, compared with a net loss of CNY1.46 billion the same period a year ago, thanks to an improvement in operating profit and exchange gains due to the appreciation of the Chinese yuan. The airline said the estimated results were prepared in accordance with Chinese accounting standards Chinese accounting standards are the accounting rules used in Chinese state owned corporations in mainland China. They are currently being phased out in favour of Generally Accepted Accounting Principles or International Accounting Standards. and were unaudited. It gave no further financial details. In June, China Eastern Chairman Li Fenghua said the airline expected to return to the black in the first half due to strong business growth, despite earlier an warning that the net figure might remain in the red because of its high debt ratio and fierce market competition. Jul 23, 2007 Sri Lanka Airlines Tourist Slump Hits Sri Lankan. Profits at Sri Lanka Airlines Group, parent company of the country's biggest carrier, fell by 50 percent in the last financial year. A downturn in tourism amid security threats and a steep rise in jet fuel prices is blamed for the reduced net figure of LKR LKR In currencies, this is the abbreviation for the Sri Lankan Rupee. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 862.18 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $7.7 million). Tourist arrivals slowed as foreign governments issued travel advisories against visiting Sri Lanka, following the escalation of hostilities in the country's internal conflict. The airline's annual fuel bill increased to USD$224.9, up by 18 percent. Jul 23, 2007 Sri Lanka Airlines Despite the problems, Sri Lanka Airlines Group executives took a positive view of what they described as "the most challenging year for the airline in its 27-year history.". Chief Executive Officer Peter Hill, said: "The Group has now been profitable for seven of the nine years since privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned . The management decision taken several years ago to develop Colombo as a hub, focused on developing passenger and cargo traffic to and from South Asia has been the key to our success. " SriLankan would have been in dire straits had we relied on the earlier more traditional traffic flows to and from Colombo." Jul 23, 2007 ZZ Editorial eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact our Director of Content Aram Gesar eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new service that keeps travelers informed on flight and airport status via the Web. For more go to http://www.airguideonline.com/airline_tracker.htm Copyright [c] 2007 Pyramid Media Group / Air Travel Media. All rights reserved. |
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