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China Eastern posts US$805.3 million interim loss
August 31st 2021
China Eastern Airlines (CEA) has recorded a net loss of 5.2 billion yuan (US$805.3 million) for the six months to June 30, an improvement from a net loss of 8.5 billion yuan in the same months last year. Read More » Revenue rose 38%, to 34.7 billion yuan, CEA said in a regulatory filing to the Stock Exchange of Hong Kong. Operating costs increased 20.2%, to 43.2 billion yuan. The SkyTeam alliance member said domestic air passenger demand rebounded in the first half of calendar 2021, but international passenger traffic was expected to remain at a low level due to the high rates of COVID-19 infections overseas and international travel restrictions. "Our domestic economy continues to recover steadily, providing better conditions and foundations for the recovery and development of the civil aviation industry," CEA said in its financial report. "However, the sporadic spreading and local clusters of COVID-19 cases that occurred recently in China have created severe challenges for the COVID-19 prevention and control work of the civil aviation industry as well as the domestic market. The situation of COVID-19 in foreign countries has brought great uncertainty to the recovery of international routes."
