China Eastern Airlines' profits decline 98%

GMT 15:53 2014 Sunday ,31 August

Arab Today, arab today China Eastern Airlines' profits decline 98%

China Southern Airlines Company
Beijing - XINHUA

China Eastern Airlines, one of the country's leading carriers, has posted a net profit drop of 97.76 percent from the same period last year in the first half of 2014.
With a net profit of 14 million yuan (2.28 million U.S. dollars), the company registered a business revenue of 42.59 billion yuan in the first six months, according to a statement it filed to the Shanghai Stock Exchange on Sunday.
The revenue was a 2.68-percent increase from the same period last year, said China Eastern Airlines.
It attributed the lackluster performance to "geopolitical instability, fewer high-end business travelers, and more convenient high-speed railway services."
The airline foresees both opportunities and challenges in the second half of this year due to a mixed picture consisting of "uncertainties in global economic recovery, continuous growth in China's airline market, and fierce competition."
By June 30, the Shanghai-based carrier had 485 planes, including 459 passenger ones, 12 cargo, and 14 corporate jets under its trusteeship.

Arab Today, arab today
Arab Today, arab today
arabtoday arabtoday arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabs, Arab, Arab