China Eastern Airlines made a net profit in the third quarter due to non-operating income and a change in the fair value of its assets.
It made a net profit of 23.2 million yuan ($3.4 million) for the three months ending 30 September, versus a net loss of 2.33 billion yuan in the corresponding period last year, says the Shanghai-based carrier.
It had an operating loss of 73 million yuan, but ended up with a net profit thanks to a 145 million yuan "fair value gain" and 154 million yuan in non-operating income. The non-operating income reportedly came from fuel hedging gains.
China Eastern, like many other carriers in China, has enjoyed an increase in passenger traffic in recent months, driven largely by the domestic market. In September, its RPKs rose 16%.
Source: Air Transport Intelligence news
