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Stock impact report

Air China, China Eastern Airlines post jump in first-quarter profits [Reuters]

China Eastern Airlines Corporation Ltd. (CEA) 
Company Research Source: Reuters
Air China, China Eastern Airlines post jump in first-quarter profits | Reuters Reuters Staff 2 Min Read SHANGHAI (Reuters) - Air China ( 601111.SS ) ( 0753.HK ) reported a higher quarterly net profit on Thursday, which it said was helped by a strengthening yuan and improved passenger and cargo volumes. China’s flag carrier posted profit attributable to shareholders of 2.63 billion yuan ($415.6 million) for January to March, 79.2 percent higher than the 1.47 billion yuan it reported for the same period last year. Its rival China Eastern Airlines ( 600115.SS ) ( 0670.HK ), the country’s second-largest by passenger numbers, said on Thursday its net profit attributable to shareholders fell 29.6 percent to 1.98 billion yuan for the quarter. But discounting one-off gains from an asset sale that it made in the first quarter of 2017, China Eastern said its profits rose 49.4 percent, citing a 9.1 percent rise in passenger traffic as one driver. The two airlines have financed their flee Show less Read more
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