China Eastern Airlines' Loss to Narrow in 2024

MT Newswires Live01-27

China Eastern Airlines (HKG:0670, SHA:600115) expects to incur a net loss attributable to shareholders of between 3.3 billion yuan to 4.3 billion yuan in 2024, according to a Hong Kong Stock Exchange disclosure on Jan. 24.

The current forecast is narrower than the year-ago loss of 8.17 billion yuan or 0.37 yuan per share.

The Chinese airline company's losses narrowed due to an increase in total traffic, cargo and passenger traffic volume. However, heightened competition, insufficient demand for business trips, oil prices and exchange rate fluctuations have contributed to the downbeat forecast, the disclosure said.

The company's Hong Kong shares fell less than 2% in recent trade.

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