China Eastern Airlines News Page 4
China Eastern to join SkyTeam
China Eastern Airlines today announced its intention to join the SkyTeam Airline Alliance. During an official ceremony in Shanghai, China Eastern President and Chief Executive Officer Ma Xulun joined the CEOs of SkyTeam member airlines to sign a Memorandum of Understanding confirming China Eastern’s plans to join the SkyTeam Alliance by mid-2011.
Czech Airlines agreed to code-share cooperation with China Eastern Airlines
Czech Airlines agreed to code-share cooperation with China Eastern Airlines on the route that the Chinese airline operates from Frankfurt am Main to Shanghai. The cooperation agreement will be signed by the end of this year. Code-share flights to China will appear in the Czech Airlines flight schedule from the 2010 summer season, which starts on 28 March 2010.
Back to black for China Eastern
Fuel hedging gains have helped China Eastern Airlines return to profitability in the first half, despite a 15.6 percent slump in revenue. The airline also remained bullish for the second half, saying economic growth in China remained strong and that it would benefit from World Expo which is being held in Shanghai next year.
China Eastern buys Shanghai Airlines
China Eastern Airlines has bought its rival Shanghai Airlines for Rmb9bn ($1.3bn) as it bids to become China’s largest airline with dominance in Shanghai as an aviation hub. The state-controlled airline, currently China’s third largest carrier, said it would raise about Rmb7bn by issuing new shares to strengthen its balance sheet.