Tag: fuel costs

Chinese airlines’ profit hit by fuel costs, weak yuan

SHANGHAI, China (AFP) — China’s major airlines mostly saw their earnings battered in the first half of the year as a weaker Chinese yuan and higher fuel prices offset steadily rising passenger traffic. Net profit at China Eastern Airlines for January-June plunged 48 percent on-year to 2.3 billion yuan ($337 million), the company said Thursday in a statement to the Hong Kong stock exchange, where it is listed. “China’s civil aviation industry continued to maintain […]