Profit at China's major state companies down 30 percent last yearSeptember 20th, 2009 China: Profit at state companies down last yearBEIJING — Profit at China's top state-owned companies fell 30 percent last year, hurt by the global financial crisis, but assets have increased. The 141 banks, airlines, oil producers and other companies controlled by the central government reported net profit of 696.18 billion yuan ($102 billion) last year, down 30.8 percent from the previous year, the official Xinhua News Agency said Sunday.
Profit at China's major state companies down 26.2 percent in first half but decline easingJuly 21st, 2009 China says profit at state companies downBEIJING — Profit at China's top state-owned companies fell 26.2 percent in the first half of the year but the decline is easing amid massive government stimulus spending, a state news agency reported Tuesday. The 136 banks, airlines, oil producers and other companies controlled by the central government reported total profit of 316 billion yuan ($46 billion) from January to June, the Xinhua News Agency said, citing the director of Cabinet's State-owned Assets Supervision and Administration Commission.
Air China forecasts 50 percent first-half profit rise, rebounding from 2008 lossJuly 15th, 2009 Air China forecasts 50 percent profit riseBEIJING — Air China Ltd., one of China's three major state-owned carriers, said Wednesday it expects first-half profits to rise at least 50 percent from a year earlier as it recovers from a huge 2008 loss. The Beijing-based airline said its first-half 2008 profit was 1.3 billion yuan under Chinese accounting standards, which would make its profit from January to June this year at least 1.9 billion yuan ($284 million).
China Eastern Airlines to acquire smaller carrier in step to strengthen competitivenessJuly 13th, 2009 China Eastern Airlines to acquire local rivalBEIJING — China Eastern Airlines Corp., one of China's three major state-owned carriers, will acquire a local rival, the companies announced Monday, as money-losing China Eastern tries to boost its competitiveness. China Eastern, based in Shanghai, will acquire Shanghai Airlines Co.
Denver's Frontier Airlines reports $1.1 million May profit amid bankruptcy protectionJune 25th, 2009 Frontier Airlines reports $1.1 million May profitDENVER — Frontier Airlines Holdings Inc. says it had a net profit of $1.1 million in May, marking the seventh straight month the company has reported gains.
Airbus delivers first China-assembled A320 jetJune 23rd, 2009 TIANJIN - Airbus delivered its first China-assembled A320 jet Tuesday in the northern port city of Tianjin, the base of the manufacturer's only final assembly line outside Europe. The plane was delivered to Beijing-based Dragon Aviation Leasing, which will lease it to Sichuan Airlines.
China Eastern, Shanghai Airlines shares suspended amid merger plan reportsJune 8th, 2009 China Eastern, Shanghai Airline shares suspendedSHANGHAI — Trading in shares of China Eastern Airlines and smaller rival Shanghai Airlines was suspended Monday, though neither carrier would comment on reports they plan to merge. China Eastern has gotten hundreds of millions of dollars in government aid as it struggles through the economic slowdown.
China Eastern Airline flight leaves for China after being stranded at LA airport over 2 daysJune 3rd, 2009 Flight stuck at LA airport 2 days bound for ChinaLOS ANGELES — A China Eastern Airlines flight to Shanghai has finally left Los Angeles after being delayed almost three days and stranding 279 passengers. Local airline manager Johnny Qian (chehn) said the original flight Sunday afternoon was canceled because a light indicated a nose landing gear problem.
Singapore Airlines quarterly profit drops 92 percent as global slowdown hurts demandMay 14th, 2009 Singapore Airlines profit plunges as demand wanesSINGAPORE — Singapore Airlines Ltd. said its January-March profit plunged 92 percent as travelers cut down on trips amid a global economic slowdown.
Frontier Airlines reports $161M 4Q loss on bankruptcy items, but had an operating profitApril 28th, 2009 Frontier Airlines lost $161M in 4QMINNEAPOLIS — Bankruptcy expenses drove Frontier Airlines Holdings Inc. to a fourth-quarter loss of almost $161 million, but it reported an operating profit.
Asia-Pacific airlines post deeper-than-expected losses of $4.3 billion in 2008April 28th, 2009 Asia-Pacific airlines post $4.3 bln losses in 2008KUALA LUMPUR, Malaysia — Asia-Pacific airlines suffered deeper-than-expected losses of $4.3 billion last year due to sharply higher fuel costs and dwindling demand amid the global economic slump, an industry group said Tuesday. The Kuala Lumpur-based Association of Asia Pacific Airlines said combined revenue for its 17 members rose 6 percent in 2008 to $103 billion, but failed to keep pace with higher fuel costs.
China Southern Airlines says 1Q profit down 71 percent as travel demand weakensApril 28th, 2009 China Southern Airlines 1Q profit down 71 percentBEIJING — China Southern Airlines Ltd., one of China's three major state-owned carriers, said Tuesday its profit fell 71 percent in the first quarter from a year earlier amid a slump in traffic. Profit for the three months ending March 31 was 222 million yuan ($32.4 million) or 0.03 yuan per share, the carrier said.
China Life says 1Q profit up 55 percent as income from surging Chinese stocks jumpsApril 24th, 2009 China Life says 1Q profit up 55 percentBEIJING — China Life Insurance Ltd., the country's biggest insurer by premiums, said Friday its first quarter profit surged 55 percent as a rally on China's stock market drove up investment income. Profit rose to 5.4 billion yuan ($788 million) or 0.19 yuan per share for the three months ending March 31, the Beijing-based insurer said.
China Eastern Airlines to increase flights from KolkataApril 22nd, 2009 KOLKATA - China Eastern Airlines Co, one of China's leading state-owned carriers, Wednesday said it will increase its flight services from Kolkata to Kunming from June. 'We will have seven flights from Kolkata to Kunming a week from June.
China Mobile 1Q profit up 5.2 percent but growth slows amid financial crisis, competitionApril 20th, 2009 China Mobile quarterly profit up 5.2 percentBEIJING — China Mobile Ltd., the world's biggest phone company by subscribers, said Monday its first quarter profit rose 5.2 percent but growth slowed due to China's economic slowdown and stronger competition. Profit for the three months ended March 31 was 25.2 billion yuan ($3.7 billion), compared with 24 billion yuan for the same period last year, the Beijing-based company said.
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