Chinese airlines improve earnings, but struggle to raise efficiency

Finding less demand than expected for air travel, and facing competition from foreign carriers, China''s airlines move into a period of consolidation.

Boosted by stronger economic growth in China and the region, two of ChinaÆs three major air carriers reported improved earnings for the first half of the year, compared with the same period in 1999.StockHouse Logo

China Southern Airlines 1055, the mainlandÆs biggest carrier by fleet size, said its net profit rose 46.1% to RMB347.97 million HK$328.27 million, against RMB238.16 million a year earlier. Earnings per share was RMB0.10 HK$0.09, up from RMB0.07.

China Eastern Airlines 670, the countryÆs third-largest airline, posted a 1.1-fold rise in net profit to RMB203.67 million. In the first half of 1999, the company earned RMB96.97 million. Earnings per...

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