China Eastern Airlines issues profit warning on exchange losses in 1H2014

China Eastern Airlines expects (18-Jul-2014) to record a 93.4% year-on-year decline in net profit to CNY50 million (USD7.8 million) in 1H2014, compared to a profit of CNY763 million (USD119.2 million) in 1H2013, due to the fluctuation of the exchange rate of the Chinese yuan, which has seen the carrier record a "relatively large amount of net exchange loss in the first half of 2014 compared to net exchange gain recorded in the corresponding period last year, resulting in the substantial year-on-year increase in finance costs for the current period." [more - original PR - English/Chinese]