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1-Sep-2014 9:53 AM

China Eastern Airlines reports mixed profits in 1H2014

China Eastern Airlines revenue up 4% - financial highlights for six months ended 30-Jun-2014:

  • Revenue: CNY43,094 million (USD7016 million), +3.5% year-on-year;
  • Operating costs: CNY43,334 million (USD7055 million), +2.8%;
    • Fuel: CNY14,949 million (USD2434 million), -0.2%;
    • Labour: CNY6885 million (USD1121 million), +10.6%;
  • Operating profit: CNY1602 million (USD260.8 million), +1087%;
  • Net profit: CNY12 million (USD2.0 million), -98.1%;
  • Yield: CNY0.606 (USD 9.87 cents), +1.2%;
  • Domestic: 0.605 (USD 9.85 cents), -0.2%;
  • International: CNY0.587 (USD 9.56 cents), +6.3%;
  • Regional: CNY 0.770 (USD 12.54 cents), -10.6%;
  • Total assets: CNY152,943 million (USD24,902 million);
  • Cash and cash equivalents: CNY3152 million (USD513.2 million);
  • Total liabilities: CNY124,441 million (USD20,261 million). [more - original PR - English/Chinese]

*Based on the average conversion rate at USD1 = CNY6.1419

China Eastern Airlines: "In the second half of 2014, affected by factors including geo-political instability and economic policies of different countries, the global economic recovery will remain in uncertainty. Though the PRC economy is expected to be stabilised and surge, while the domestic aviation market is expected to still maintain growth, with a relatively intensive industry competition, the Company will face an business environment that involves both opportunities and challenges." Source: Company statement, 30-Aug-2014.

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