Their total loss reached around 8.17 billion yuan ($1.2 billion), but the airlines cautioned in July that it might near 9 billion yuan, as reported by The Wall Street Journal. In the first quarter, the airlines generated a total profit of 4.82 billion yuan due to robust demand, especially for international flights.
Air China reported a net loss of 2.29 billion yuan for January to June, up from a loss of 1.8 billion yuan during the same timeframe last year. China Eastern reported a net loss of 2.18 billion yuan, in contrast to 1.43 billion yuan, while China Southern recorded a net loss of 3.7 billion yuan, compared to 1.53 billion yuan. The price of jet fuel rose by 35-38%.
At the same time, revenue rose for all airlines: Air China by 10.5%, China Eastern by 11%, and China Southern by 9.7%.
China Eastern characterized the airline sector's profitability as "greatly affected" because of disturbances on international routes and continually elevated jet fuel costs.
The Civil Aviation Administration of China reported a 1% rise in passenger traffic, reaching 380 million passengers during January to June.
source: wsj.com
Air China reported a net loss of 2.29 billion yuan for January to June, up from a loss of 1.8 billion yuan during the same timeframe last year. China Eastern reported a net loss of 2.18 billion yuan, in contrast to 1.43 billion yuan, while China Southern recorded a net loss of 3.7 billion yuan, compared to 1.53 billion yuan. The price of jet fuel rose by 35-38%.
At the same time, revenue rose for all airlines: Air China by 10.5%, China Eastern by 11%, and China Southern by 9.7%.
China Eastern characterized the airline sector's profitability as "greatly affected" because of disturbances on international routes and continually elevated jet fuel costs.
The Civil Aviation Administration of China reported a 1% rise in passenger traffic, reaching 380 million passengers during January to June.
source: wsj.com