Wednesday Sep 24 2008
All times are Beijing time
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China Eastern, Hainan latest Chinese carriers to report slumping traffic
Published: Sep 24, 2008
China Eastern Airlines and Hainan Airlines experienced a sharp traffic decline in August, another sign of China's sagging domestic passenger market. CEA posted a 23.1% year-over-year drop to 2.92 million passenger boardings with a load factor of 69.4%, down 8.6 points. HNA transported 1.2 million passengers, a 5.2% decrease, as load factor fell 7.8 points to 74.3%. China Galaxy Securities Co. aviation analyst Mao Ang projected that Chinese carriers will post an "unpromising" financial performance in the third quarter owing to rising fuel prices, "falling demand" and "the slowdown of yuan appreciation."
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