China Eastern Airlines expects to return to the black for the fiscal year 2009, as the aviation industry recovers.
"The results of the company for 2009 are expected to turn from loss into profit," says the Shanghai-based carrier, adding that the results have not been audited yet.
China Eastern posted a net loss of 13 billion yuan ($1.9 billion) in 2008.
"The reversal in fair value in the aviation fuel hedging contracts of the company in 2009 is a reason for the recovery from loss," says the carrier.
In addition, the aviation industry has recovered and the cost of fuel has gone down, it adds.
China Eastern's efforts in market expansion and cost control have also helped, says the airline.
Source: Air Transport Intelligence news
