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China Eastern Airlines posts US$1.9 billion annual loss; predicts ‘slow recovery trend’
April 1st 2022
China Eastern Airlines (CEA) has reported a net loss of 12.2 billion yuan (US$1.924 billion) for the 12 months to December 31, 2021 compared with a net loss of 11.8 billion yuan in 2020. Read More » Revenue increased 14.3% to 67.1 billion yuan, CEA said in a regulatory filing to the Stock Exchange of Hong Kong. Operating expenses rose 10.8%, to 86.7 billion yuan. "Facing a complex external environment, the company adhered to the general principle of seeking progress while maintaining stability," CEA said in its financial filing. The SkyTeam alliance member said the global economy lacked momentum for recovery because of the ongoing coronavirus pandemic. "The short-term volatility of the epidemic will have a certain impact on service consumption and even the domestic economy," CEA said. "The market shows a 'slow recovery' trend."
