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China Eastern Airlines Corporation Limited (CHEAF)

0.3182

+0.0160

+(5.29%)

At close: January 31 at 10:13:33 AM EST

Top Chinese airlines' profits fall as flagging economy pressures fares

China's top three state-owned airlines reported profit declines in the third quarter despite record summer passenger numbers and fuller planes than last year, as a slowdown in domestic economic growth pushes flyers to seek cheaper fares. Beijing-headquartered Air China on Wednesday reported a net profit of 4.14 billion yuan ($581.34 million) in the quarter, down from 4.24 billion yuan a year earlier. China Eastern Airlines on the same day posted a net profit of 2.63 billion yuan, down 28.2% year on year.

Reuters 3 months ago

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China's top airlines post losses amid slow international travel

BEIJING (Reuters) -China's leading state-owned airlines posted losses in the first half of the year, weighed down by a slower-than-expected rebound in international travel, domestic oversupply, and more intense competition as aviation capacity returns globally. China's top three airlines - Air China, China Southern Airlines and China Eastern Airlines - last reported annual net profits in 2019 before the COVID-19 pandemic took hold. China Eastern, headquartered in Shanghai, reported a first-half loss of 2.8 billion yuan ($395 million) on Friday, compared with a loss of 6.2 billion in the same six months of last year.

Reuters 5 months ago

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Performance Overview

Return	CHEAF	SSE Composite Index
YTD	-3.49%	-4.60%
1-Year	+20.74%	+14.84%
3-Year	-15.15%	-3.30%