China Eastern Airlines posts 41% profit leap
China Eastern Airlines lifted annual profit to its highest level in more than 20 years, helped by a stronger yuan, improved passenger yields and asset sales. The airline said that profit attributable to shareholders rose by 40.9% year on year to CNY6.35b (US$1b), the highest since at least 1996. This was, however, lower than the CNY6.47b average forecast from 16 analysts polled by Thomson Reuters. The airline's revenue rose 3.2% to CNY101.72b, helped by a 9.3% rise in revenue passenger kilometre and 0.2% rise in passenger yields. The company also said financing expenses had fallen sharply thanks to the yuan's appreciation against the US dollar. Its competitors Air China and China Southern Airlines also missed analyst expectations this week despite rising earnings. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-03-30/sky/china-eastern-airlines-posts-41-profit-leap
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China Eastern Airlines posts 41% profit leap
China Eastern Airlines lifted annual profit to its highest level in more than 20 years, helped by a stronger yuan, improved passenger yields and asset sales. The airline said that profit attributable to shareholders rose by 40.9% year on year to CNY6.35b (US$1b), the highest since at least 1996. This was, however, lower than the CNY6.47b average forecast from 16 analysts polled by Thomson Reuters. The airline's revenue rose 3.2% to CNY101.72b, helped by a 9.3% rise in revenue passenger kilometre and 0.2% rise in passenger yields. The company also said financing expenses had fallen sharply thanks to the yuan's appreciation against the US dollar. Its competitors Air China and China Southern Airlines also missed analyst expectations this week despite rising earnings. <br/>
