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31-Aug-2016 11:19 AM

China Eastern Airlines operating profit up 25% in 1H2016, sees 'weak' economic recovery in 2016

China Eastern Airlines revenue up 4% – financial highlights for six months ended 30-Jun-2016:

  • Total operating revenue: CNY46,335 million (USD7089 million), +4.4% year-on-year;
    • Passenger: CNY39,298 million (USD6013 million), +5.8%;
    • Cargo and mail: CNY2690 million (USD411.6 million), -16.4%;
  • Total operating costs: CNY41,951 million (USD6418 million), +2.6%;
    • Fuel: CNY8363 million (USD1280 million), -20.8%;
    • Labour: CNY8314 million (USD1272 million), +9.7%;
  • Operating profit: CNY7158 million (USD1095 million), +25.0%;
  • Net profit: CNY3530 million (USD540.1 million), -8.5%;
  • Passenger yield: CNY0.512 (USD 7.8 cents), -8.2%;
    • Domestic: CNY0.527 (USD 8.1 cents), -4.4%;
    • International: CNY0.465 (USD 7.1 cents), -15.8%;
    • Regional: CNY0.735 (USD 11.2 cents), -5.2%;
  • Cargo yield: CNY1.17 (USD 17.9 cents), -12.2%;
  • Total assets: CNY214,030 million (USD32,746 million);
  • Cash and cash equivalents: CNY13,214 million (USD2022 million);
  • Total liabilities: CNY162,206 million (USD24,817 million). [more - original PR - English/Chinese]

*Based on the average conversion rate at CNY1 = USD0.152997

China Eastern Airlines: “In the second half of 2016, greater uncertainties exist in the global economy as affected by the decision of withdrawal of the United Kingdom from the European Union in the Brexit referendum and the escalated disputes in the geopolitics worldwide. It is expected that economic recovery will be weak on a full-year basis.” Source: Company statement, 30-Aug-2016.

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