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China Eastern reports largest profit in two decades
April 6th 2018
Shanghai based China Eastern Airlines has reported a 2017 full-year net profit of CNY6.35 billion (US$1 billion), its best annual result since 1996 and a 41% improvement over the previous 12 months. Read More » The SkyTeam member’s revenue grew 3.2%, to CNY101.7 billion, supported by a 9.3% rise in revenue passenger kilometres and a 0.2% increase in passenger yields.
“China's civil aviation is experiencing a period in which ample opportunities are available and rapid growth can be achieved,” China Eastern said in a statement late on Thursday, which noted “the continuous growth of disposable income” in China.
China Eastern was the last of the ‘Big Three’ state-controlled carriers to announce its results. Air China and China Southern Airlines also reported their best annual results in more than a decade as booming travel demand and foreign exchange gains more than compensated for yield slippages and higher fuel costs.
