China Eastern Airlines posts narrower quarterly loss of US$216 million

China Eastern Airlines posts narrower quarterly loss of US$216 million
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BEIJING/SYDNEY (Aug 30): China Eastern Airlines said on Monday its net loss attributable to shareholders narrowed to 1.4 billion yuan (US$216.46 million) from 3.8 billion yuan in the first quarter.

Air China and China Southern Airlines on Friday also narrowed losses in the second quarter after a hit from low Lunar New Year traffic, but domestic Covid-19 outbreaks and border closures are set to weigh on the rest of the year.

In the first half, China Eastern Airlines' net loss amounted to 5.2 billion yuan.

Revenue for the Shanghai-based carrier rose 38.13% on the year to 34.7 billion yuan in the first half, in line with growing demand for travel as the Chinese economy continued to recover amid very few Covid-19 cases.