China Eastern operating profit drops 42.1% over first 9 months
Faced with rising fuel costs and a weakened Chinese yuan against the US dollar, China Eastern Airlines reported a 42.1% decline in operating profits to CNY5.8b (US$844m) for the first 9 months of 2018, compared to the same period last year. Net profit for the period was CNY4.2b, putting the airline second behind Air China in earnings among the country’s big-3 airlines. While operating revenues increased 13.4% to CNY87.9b year-over-year, operating expenses rose by the same rate to CNY74.4b. Profits from investments plummeted 91.3% from CNY2b to CNY175m. Capacity was up 7.8% to 181.5b ASKs YOY, while RPKs grew by 9.7%. Airfreight capacity also increased 18.9% to 5.9b AFTKs. The airline carried 90.5m passengers, a 9.6% increase YOY, with an average load factor of 82.9%. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-11-01/sky/china-eastern-operating-profit-drops-42-1-over-first-9-months
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China Eastern operating profit drops 42.1% over first 9 months
Faced with rising fuel costs and a weakened Chinese yuan against the US dollar, China Eastern Airlines reported a 42.1% decline in operating profits to CNY5.8b (US$844m) for the first 9 months of 2018, compared to the same period last year. Net profit for the period was CNY4.2b, putting the airline second behind Air China in earnings among the country’s big-3 airlines. While operating revenues increased 13.4% to CNY87.9b year-over-year, operating expenses rose by the same rate to CNY74.4b. Profits from investments plummeted 91.3% from CNY2b to CNY175m. Capacity was up 7.8% to 181.5b ASKs YOY, while RPKs grew by 9.7%. Airfreight capacity also increased 18.9% to 5.9b AFTKs. The airline carried 90.5m passengers, a 9.6% increase YOY, with an average load factor of 82.9%. <br/>
