Shanghai-based China Eastern Airlines yesterday reported a 2009 net profit of CNY539.7 million ($79.2 million), a big turnaround from a net loss of CNY13.93 billion in 2008, on a 4.8% decrease in operating revenue to CNY39.83 billion. Operating expenses lowered 13.5% to CNY37.25 billion owing to lower fuel prices. CEA said "fuel hedge gains" and "Beijing's favorable policy of returning civil aviation construction funds" were largely responsible for the return to profitability. The carrier ...

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