Skip to main content

Advertisement

Advertisement

Business

China Eastern Airlines posts narrower quarterly loss of 1.4 billion yuan

China Eastern Airlines posts narrower quarterly loss of 1.4 billion yuan

FILE PHOTO: The logo of China Eastern Airlines is shown on a panel at a check-in counter at Hong Kong Airport in Hong Kong, China April 4, 2018. REUTERS/Bobby Yip/File Photo

BEIJING/SYDNEY : China Eastern Airlines said on Monday its net loss attributable to shareholders narrowed to 1.4 billion yuan (US$216.46 million) from 3.8 billion yuan in the first quarter.

Air China and China Southern Airlines on Friday also narrowed losses in the second quarter after a hit from low Lunar New Year traffic, but domestic COVID-19 outbreaks and border closures are set to weigh on the rest of the year.

In the first half, China Eastern Airlines' net loss amounted to 5.2 billion yuan.

Revenue for the Shanghai-based carrier rose 38.13per cent on the year to 34.7 billion yuan in the first half, in line with growing demand for travel as the Chinese economy continued to recover amid very few COVID-19 cases.

(US$1 = 6.4678 Chinese yuan renminbi)

(Reporting by Stella Qiu in Beijing and Jamie Freed in Sydney; Editing by Edmund Blair)

Source: Reuters

Advertisement

Also worth reading

Advertisement