China Eastern predicts no profit till 2011

4/21/2009 9:42:16 AM

China Eastern Airlines said it expects its losses to narrow significantly this year as it cuts costs, but it doesn't expect a return to profitability until 2011, Dow Jones reported.   The Shanghai-based airline said it hopes to reduce costs by at least 15 percent this year and will slash capital expenditure plans to US$1.5 billion from $1.8 billion in 2008.   "We aim to cut back or put off nonessential investments this year that aren't related to our operational and safety requirements," China Eastern's newly-appointed president Ma Xulun said.   CargoNews Asia

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