That’s an impressive drop right there. I wonder how much of that was attributable to fewer government officials flying first class before reforms kicked in? When you build that sort of revenue into your business model, wacky shit ensues.

China Eastern Airlines, one of the country’s leading carriers, has posted a net profit drop of 97.76 percent from the same period last year in the first half of 2014.

With a net profit of 14 million yuan ($2.28 million), the company registered a business revenue of 42.59 billion yuan in the first six months, according to a statement it filed to the Shanghai Stock Exchange on Sunday.

The revenue was a 2.68-percent increase from the same period last year, said China Eastern Airlines.

It attributed the lackluster performance to “geopolitical instability, fewer high-end business travelers, and more convenient high-speed railway services.”

via China Eastern Airlines’ profits decline 98% – Business – Chinadaily.com.cn.

© Stan for China Hearsay, 2014. |
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