China Eastern (600115) takes delivery of first Airbus A340-600
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Date-Time: 2003-7-30 18:42:07
BEIJING (AFX-ASIA) - China Eastern Airlines Co Ltd (SH A 600115; HK 0670; NYSE CEA) said it has taken delivery of the first of five A340-600 jets, shrugging off the impact of SARS which had threatened to delay the order.
The airline said another two A340-600s and seven A320s will join its fleet this year and two further A340-600s would be delivered in 2004. China Eastern, one of China's major carriers, was hit hard by the outbreak of Severe Acute Respiratory Syndrome (SARS). At the height of the epidemic in May, airline officials said the Shanghai-based company was suffering record losses, hemorrhaging 2.4 mln usd a day, and considering the deferral of the planes' delivery. China Eastern is only the fifth carrier in the world to operate the A340-600 -- the world's longest range aircraft. "Entry of the A340-600 into service is a significant event showing that China Eastern Airlines has started walking out of the shadow of SARS, which has negatively affected trade and tourism," said an unnamed executive in a press release. "Our business is in full recovery, in sharp contrast with the sluggish business weeks ago," the executive said. This was reflected in July passenger revenue which the company estimated has risen 100 pct month-on-month to more than 800 mln yuan. China Eastern Airlines is a component stock of the FTSE/Xinhua China 25 Index. (1 usd = 8.3 yuan) mp/bmm/rc/ap
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