China's Carriers Set for Biggest Profit Since 2010 on Expansion [Bloomberg Business News]
China Eastern Airlines Corporation Ltd. (CEA)
US:NYSE Investor Relations:
irasia.com/listco/hk/chinaeast/annual/index.htm
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Source: Bloomberg Business News
Morton Shen, a manager at a Shanghai-based company, no longer needs to spend more than 17 hours to fly to Madrid after a layover in Amsterdam. A Chinese airline now can whisk him direct to Spain’s capital in about 13 hours for a cheaper fare. “Most travelers would prefer the direct flight as transfers waste too much time,” said Shen, 29. Air China Ltd. , China Eastern Airlines Corp. and China Southern Airlines Co. , the nation’s “big three,” are increasingly ferrying passengers from the mainland to Europe and the U.S. without hopping over in Hong Kong or Singapore. Hundreds of billions of dollars of new aircraft in the past decade have helped the state-owned airlines expand in a market where some 488 million people -- or the combined populations of the U.S., Germany and the U.K. -- take to the skies every year. “Chinese travelers prefer to fly with Chinese airlines and hence, as the Chinese travel more, their airlines benefit,” said Steve Saxon, a Shan
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