China Eastern Airlines reported a 2006 net loss of CNY2.78 billion ($359.8 million), reversed from a net profit of CNY60 million in the prior year, on a 39% drop in operating revenue to CNY36.8 billion. The carrier attributed the result mainly to "sale of old aircraft. . .In 2006 we sold some old aircraft whose actual sale price was far lower than their book value, which resulted in a loss of CNY2 billion last year," according to Luo Zhuping, secretary to CEA's board. The company also cited ...

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