China Eastern Airlines Corporation ("China Eastern Airlines") has released the unaudited financial report for the third quarter of 2024. The report shows that the company's revenue increased by 6.23% compared to the same period last year, reaching 38,386 million RMB; however, the net profit attributable to shareholders of the listed company decreased by 28.18% to 2,630 million RMB. The company explained that the decrease in net profit was mainly due to intensified competition in the domestic passenger market, partial international market capacities yet to recover, competition from high-speed rail, and fluctuation of high oil prices. In addition, both basic earnings per share and diluted earnings per share decreased by 25% to 0.12 yuan. The company's total assets decreased by 2.24% compared to the end of...Show More

China Eastern Airlines Corporation ("China Eastern Airlines") has released the unaudited financial report for the third quarter of 2024. The report shows that the company's revenue increased by 6.23% compared to the same period last year, reaching 38,386 million RMB; however, the net profit attributable to shareholders of the listed company decreased by 28.18% to 2,630 million RMB. The company explained that the decrease in net profit was mainly due to intensified competition in the domestic passenger market, partial international market capacities yet to recover, competition from high-speed rail, and fluctuation of high oil prices. In addition, both basic earnings per share and diluted earnings per share decreased by 25% to 0.12 yuan. The company's total assets decreased by 2.24% compared to the end of the previous year, to 276,257 million RMB. During the reporting period, China Eastern Airlines made a series of significant decisions, including a share repurchase plan, the absorption, merger, and liquidation of the third airline limited company, and an increase in capital for Shanghai Airlines Limited Company. In terms of shareholder structure, China Eastern Airlines Group Co., Ltd. is the largest shareholder, with a shareholding of 39.74%. The report also mentioned that the company plans, within the next 12 months, to increase its shareholding by the holding shareholder China Eastern Air Group and its wholly-owned subsidiary Donghang Golden Control, by an amount of no less than 0.5 billion RMB, and not more than 1 billion RMB.