Company Watch - Air China / China Eastern.Jul 30, 2007 Air China Promises Fewer Delays For Olympic Games Olympic games, premier athletic meeting of ancient Greece, and, in modern times, series of international sports contests. The Olympics of Ancient Greece Although records cannot verify games earlier than 776 B.C. . Air China, the official airline partner for the 2008 Beijing Olympics, is working to cut delays and improve employees' English language skills ahead of next year's Games, according to executives. The standard of service on the Hong Kong-listed airline, part owned by Cathay Pacific, is a popular topic of discussion in Beijing, with complaints ranging from frequent delays to poor English abilities. Air China says some of those delays are caused by the weather and are unavoidable, thunderstorms thunderstorms a storm characterized by thunder and lightning caused by strong rising air currents; identified as agents of animal disease because of their involvement causing (1) spasmodic colic; (2) lightning strike; (3) injuries of cattle acquired in stampedes initiated by storms. which strike Beijing during the summer frequently lead to the airport closing, but acknowledge they could keep passengers better informed. Jul 23, 2007 Air China, the official airline partner for the 2008 Beijing Olympics, is working to cut delays and improve employees' English language skills ahead of next year's Games, according to executives. Jul 23, 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. and 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 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 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 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 Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. 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 China Eastern Airlines said it had agreed to buy 10 Airbus A320 series aircraft from Airbus with a list price of CNY4.64 billion yuan (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. $613 million). The airline said in a statement it would fund the purchase by bank loans or other financial arrangements, and the aircraft are expected to be delivered from March 2011 to June 2012. It gave no further details. In June, China Eastern said it had signed a contract to buy 30 A320 passenger jets from Airbus for less than the CNY13.9 billion (USD$1.74 billion) list price of the planes. Jul 23, 2007 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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