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CHINA EASTERN AIRLINES CORP (CHNEY)

9.55

-5.29

(-35.65%)

At close: January 21 at 10:35:55 AM EST

China's largest airlines deepen losses in first quarter as competition, US tariffs to weigh

BEIJING (Reuters) -China's three biggest airlines reported deeper first-quarter losses on Tuesday from the same period a year ago, amid intensifying competition and economic pressures on consumers, and a worsening trade war with the United States. State-owned China Southern Airlines, Air China, and China Eastern have struggled to return to a break-even position after the COVID-19 pandemic, posting five consecutive years of annual losses. China said on Tuesday its airlines had been severely affected by the trade war between Washington and Beijing.

Reuters yesterday

CHNEY
-35.65%
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CHKIF
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 5 months ago

AICAF

CHNEY
-35.65%
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 7 months ago

AICAF

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CHNEY
-35.65%

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CHINA EASTERN AIRLINES CORP (CHNEY)

China's largest airlines deepen losses in first quarter as competition, US tariffs to weigh

Top Chinese airlines' profits fall as flagging economy pressures fares

China's top airlines post losses amid slow international travel