China Eastern Airlines has extended its three-year lossmaking streak as international travel to and from the country remains depressed despite the removal of pandemic travel restrictions.China Eastern, one of the country’s three largest carriers, reported a net loss of Rmb6.3bn ($864mn) for the first six months of the year, improving from a loss of Rmb18.7bn in the same period last year. Revenue increased from Rmb19.4bn to Rmb49.4bn.
The subdued results follows a similar performance from Air China, the flag carrier, which improved to a net loss of Rmb3.4bn from Rmb19.4bn in the first half. China Southern Airlines also logged losses.
Inbound China flights have only recovered to about 34 per cent of pre-pandemic levels in the first four months of this year, according to the industry body International Air Transport Association. International long-haul flights, an important market for China Eastern, were less than 6 per cent of pre-pandemic levels over the same period.