Saturday, September 23rd, 2017
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China Eastern Airlines posted a 34.5 percent jump in first-half profit on a firmer yuan and the sale of a logistics unit, although a cut in flights to South Korea amid travel curbs enforced by Beijing capped its earnings. China's second-largest airline by passenger numbers said it earned a net profit attributable to shareholders of 4.3 billion yuan ($652.31 million) over the six months to June, while its revenue rose 3.6 percent to 48 billion yuan ($7.28 billion).

Passenger yields, however, fell 1 percent over the period in part due to the cancellation of lucrative routes to South Korea. The cuts came as Beijing pressured South Korea over Seoul's deployment of a US missile defence system designed to thwart any North Korean attack, but which China sees as a threat to its own security.

China Eastern, which has more exposure to South Korea than its rivals Air China and China Southern Airlines , was still able to turn in a higher half-yearly profit given the 2.433 billion yuan sale of its stake in Eastern Air Logistics to sister firm Eastern Airlines Industry Investment.



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