China Eastern Airlines reduces losses

China Eastern Airlines<600115><670> released its interim results yesterday which showed substantial improvements but did not managed to earn positive profits for the six months ended 30 June 2007.

The loss for the period was RMB 383.95 million, substantially lower than the RMB 1,710.62 million losses incurred for the same period last year. Higher aircraft fuel expenses have taken its toll on the airlines and it is in talks to sell a stake to Singapore Airlines. The announcement is expected to be made on Sunday with the stock to resume trading next month.