Home > Airlines > China Eastern Airlines' third quarter profit slumps 38%

China Eastern Airlines' third quarter profit slumps 38%

10/29/2018| 2:17:59 PM|

Net profit dropped to 2.2 billion yuan ($317 million) in the July-to-September period, from 3.6 billion yuan a year earlier, while revenue rose 13.5% to 33.5 billion yuan.

China Eastern Airlines Corp Ltd reported a 38% drop in third-quarter net profit on Friday, dragged down by a weakening yuan and rising fuel and debt costs.

China Eastern said net profit attributable to shareholders dropped to 2.2 billion yuan ($317 million) in the July-to-September period, from 3.6 billion yuan a year earlier, although revenue rose 13.5% to 33.5 billion yuan.

For the first nine months of the year, net profit was down 43.3% from a year earlier to 4.5 billion yuan.

The yuan has fallen by about 6 percent against the U.S. dollar since the start of this year, pushing up financing costs at airlines which have bought planes with mainly U.S. dollar-denominated loans.

Read Original Article

TAGS: China Eastern Airlines | financial statement
©2017 广州力矩资讯科技有限公司 粤ICP备06070077号-2
Tell us more about yourself!