China Eastern and Hainan Airline’s Q1 profits skyrocket 862.93% and 427.42%
China Eastern Airlines’ operational revenue was RMB22.393 billion and Hainan Airlines reported RMB9.122 billion revenue.
China Eastern Airlines’ operational revenue for Q1 nudged up 2.61% y-o-y to RMB22.393 billion (approx: US$3.6 billion) with gross profit of RMB2.09 billion(approx: US$337 million). The net profit for the same period jumped 862.93% y-o-y to RMB1.564 billion (approx: US$252 million) . The earnings per share is RMB0.12.
Last year, the carrier achieved net profit was RMB4.12 billion (approx: US$665 million). It has a fleet of 515 planes covering a route network of 1,052 destinations in 177 countries.
Hainan Airlines reported 6.04% growth in operational revenue for Q1, at RMB9.122 billion (approx: US$1.47 billion), with net profit of RMB1.316 billion (approx: US$212 million) . Its net profit hiked 427.42% y-o-y to RMB921 million (approx: US$149 million) . The earnings per shares is RMB0.07.
Hainan Airlines uses Boeing 737, 767 and 787 as well as newer luxury class fleet of Airbus A330 aircraft for its core fleet. Its operates more than 600 routes connecting almost 90 cities in China, Asia, Europe and North America..(Translation by David)