STOCKS | China Eastern Airlines Slips After First-Half Loss Widens

China Eastern Airlines' H shares fell 3.3% to HK$2.815 after the carrier reported a wider first-half loss, according to ETNet. The company said its loss attributable to shareholders for the six months ended June 30 widened to RMB 2.18 billion from RMB 1.43 billion a year earlier. It posted a loss per share of RMB 0.11 and did not declare an interim dividend. Revenue rose 11% to RMB 74.23 billion, while operating expenses increased 14.24% to RMB 79.657 billion. Aircraft fuel costs climbed 36.22% to RMB 29.165 billion, mainly because the average oil price rose 36.80% year on year, adding RMB 7.846 billion in fuel costs, partly offset by a RMB 92 million reduction from lower fuel consumption. The group said total transport turnover in the first half rose 5.57% to 14.259 billion tonne-kilometres, passenger traffic fell 0.55% to 72.763 million, and cargo and mail volume increased 8.35% to 575,000 tonnes.