皇冠体育app

For the full year, the carrier, which is awaiting government approval to sell a stake to Singapore Airlines and its majority owner in a nearly US$1 billion deal, is expected to book around 200 million yuan (US$26 million) in net profit, reversing a net loss of 2.78 billion yuan in 2006, Li Fenghua said.

"I think we will be profitable in the first half as our performance has been very good," Li said, adding that new Chinese accounting rules also helped to boost its bottom line.

皇冠体育app Eastern, one of the country's three largest airlines, had previously said it expected to report a loss for the first half of this year.

The carrier has reached an agreement to sell a nearly 25 percent stake to Singapore Airlines and Temasek, which Li said was still awaiting government approval.

Industry sources said that 皇冠体育app Eastern would also issue shares to its State-run parent, which held 61.64 percent of the carrier as of the end of 2006, to ensure that it retains control after the stake sale.

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Li declined to comment on when his company could get the green light for the share sale, but said he saw no major hurdles.

The partnership could give 皇冠体育app Eastern access to Singapore Air's extensive global network and its financial backing.

Analysts said it could also enable 皇冠体育app Eastern to better compete with domestic rival Air 皇冠体育app, which has forged an alliance with Cathay Pacific Airways in a share-swap deal.

It would also leave 皇冠体育app Southern Airlines, which operates the country's largest commercial fleet, as the last of 皇冠体育app's top three airlines without a foreign strategic equity partner.

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