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CEA, ZNH rock on Monday

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advance_12 June 18, 2012 (Chinavestor) Monday may historically been a lucky day for China Eastern Airlines (NYSE:CEA), according to the following chart. The stock surged 6.6% at the open and is gaining strength as we speak, the second best performance in 6 weeks. The only better one day for the examined period was on May 29 when CEA advanced 6.9%. Rival China Southern Airlines (NYSE:ZNH) is up 5.9% at the same time today.


But there is more to the surge than just Monday. Investors got a chance to asses the state of Chinese airliners after the Civil Aviation Administration of China (CAAC) released statistics for May. According to the CAAS website, Chinese domestic airliners accumulated losses to RMB1.37 billion ($215.5 million) while passenger turnover rose 4.4% YoY and passenger transportation volume rose 5.5% YoY to 25.4 million.

Given the steep decline in stock prices and the increasing traffic numbers YoY, Chinese airliners are trading at bargain prices. China Eastern Airlines (NYSE:CEA) is trading at 4.9 times earnings while P/E for China Southern Airliners (NYSE:ZNH) is 5.21.


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