Airlines 'Unlikely To Match 2010 Performance'

March 31, 2011

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The airline industry is unlikely to repeat its strong performance in 2010 as carriers grapple with stiffening competition and high oil prices, the chairman of China Eastern Airlines said on Thursday.

The airline is also maintaining an open attitude towards accepting new strategic investors, China Eastern's Chairman Liu Shaoyong said.

The airline reported a more than 28-fold surge in 2010 net profit on Thursday, helped by booming air travel as the broader Chinese economy grew.

(Reuters)