Alexa

China Eastern says first half net loss cut by three quarters

China Eastern says first half net loss cut by three quarters

Chinese carrier China Eastern Airlines Corp. reported late Wednesday that it trimmed its first-half net loss by three-quarters from a year earlier, as exchange rate gains helped outweigh rising jet fuel costs.
The Shanghai-based airline's net loss for January-June was 383.9 million yuan (US$50.8 million;euro37.3 million), down from its 1.7 billion yuan shortfall in the first half of 2006.
Revenues for the first half were 19 billion yuan (US$2.5 billion;euro1.8 billion), 12.4 percent higher than the 16.9 billion yuan recorded in the first half of last year.
The company reported exchange rate gains, due to the Chinese yuan's rising value, of 726 million yuan (US$96 million;euro70 million).


Updated : 2021-03-01 08:54 GMT+08:00