China Eastern’s 2011 profit drops 7.7% on fuel prices, high speed rail competition

China Eastern Airlines A320. By Rob Finlayson China Eastern Airlines (MU) reported a net profit of CNY4.58 billion ($722 million) in 2011, down 7.7% from CNY4. 96 billion in 2010, due to rising fuel prices and competition from China’s high speed rail system. Operating revenue climbed 11.65% to CNY82...

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