China Eastern Airlines to narrow loss to up to 4.3 billion yuan in 2024

China Eastern Airlines (0670) expects its net loss to narrow to up to 4.3 billion yuan (HK$4.6 billion) for 2024, compared to a loss of 8.2 billion yuan in 2023.

Net loss for the year is expected to range from 3.3 billion yuan to 4.3 billion yuan, the company said in a filing on Friday.

It recorded a total traffic volume of 25.25 billion tonne-kilometres and a passenger traffic volume of 140 million passengers, representing a year-on-year increase of 36.32 percent and 21.59 percent, respectively, with a year-on-year significant decrease in losses of operating results, the filing said. 

However, due to factors such as intensified competition in the industry, insufficient demand for business trips, oil prices and exchange rate fluctuations, the airline is expected to book a loss in its operating results for 2024, it noted.