Home Business China Eastern Airlines is expected to lose 17 billion to 19.5 billion in the first half of 2022. The year-on-year loss increases and the international oil price rises sharply

China Eastern Airlines is expected to lose 17 billion to 19.5 billion in the first half of 2022. The year-on-year loss increases and the international oil price rises sharply

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China Eastern Airlines is expected to lose 17 billion to 19.5 billion in the first half of 2022. The year-on-year loss increases and the international oil price rises sharply

On July 15, China Eastern Airlines (600115) recently released the 2022 semi-annual performance forecast. It is estimated that the net profit attributable to shareholders of listed companies in the semi-annual 2022 will be about RMB -17 billion to -19.5 billion. In the same period, -5.208 billion yuan, the loss increased year-on-year.

The announcement shows that the performance forecast period is from January 1, 2022 to June 30, 2022. Net profit attributable to shareholders of listed companies after non-recurring gains and losses in the first half of 2022 is expected to be approximately RMB -17.3 billion to -19.8 billion.

In the first half of 2022, due to the repeated impact of the new crown pneumonia epidemic (hereinafter referred to as the “epidemic”), civil aviation was faced with an unprecedented difficult situation, and the production of civil aviation transportation fell to a trough. 118 million person-times, 36.7% of the same period in 2019. Headquartered in Shanghai, the company has experienced severe challenges from the impact of the epidemic. At the same time, the sharp rise in international oil prices and the depreciation of the RMB against the U.S. dollar have further aggravated the company’s cost pressure.

In the first half of 2022, the company will face challenges head-on and rise to the challenge, coordinating the promotion of production and operation, epidemic prevention and control, reform and development, social responsibility and other work. In the face of the impact of the epidemic, the company closely tracked changes in market demand, adjusted capacity deployment in a timely manner, strengthened passenger and cargo linkages, and implemented stricter cost control measures to ensure stable operating cash flow and strive to reduce the adverse impact of the epidemic. Although the company has gone all out to increase revenue and reduce expenses, under the influence of the severe impact of the epidemic and other external adverse factors, it is expected that the company’s semi-annual operating performance in 2022 will suffer a significant loss.

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According to the data of Wabei.com, the company’s main business scope is domestic and approved international and regional air passenger, cargo, mail, luggage transportation business and extended services. In addition, the company is also approved to carry out the following business operations: general aviation business; aircraft maintenance; aviation equipment manufacturing and maintenance; agency business for domestic and foreign airlines; other businesses related to air transportation; insurance agency services; e-commerce; in-flight supermarkets ; commodity wholesale and retail.

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