China Eastern Airlines says its first-half profit has tumbled 65 per cent on the slowing demand for air travel, higher jet fuel prices and foreign exchange losses.
It's the third of China's three major state-owned carriers to report a big drop in earnings.
The Shanghai-based airline is also the latest in a string of big Chinese companies to report disappointing results. That highlights the slowdown in China's economy, the world's second biggest.
The company reported late on Thursday profit fell to 806.9 million yuan ($A123 million) or 0.07 yuan per share.
In 2011, profit was 2.3 billion yuan or 0.2 yuan per share.
While revenue climbed 5 per cent, costs also rose. The price of jet fuel, which is the airline's single biggest expense, rose 10 per cent.
Source: http://finance.ninemsn.com.au/newsbusiness/aap/8525298/china-eastern-profit-down-65
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