CHINA Eastern Airlines, the country's third-largest carrier, said its first quarter loss narrowed 47 percent from last year as a result of higher fuel surcharges.
The net loss was 510.9 million yuan (US$65 million) in the three months ended March 31, compared with 955.1 million yuan a year earlier, China Eastern told the Shanghai Stock Exchange yesterday. The airline said its revenue grew 24 percent to 9.02 billion yuan in the quarter.
China Eastern said it filled 70.1 percent of its available seats in the first quarter, compared with 71.4 percent at China Southern Airlines Co and 74.7 percent at Air China Ltd, the company's larger rivals.
The Shanghai-based airline carried 8.6 million passengers in the first three months, an increase of 7.2 percent. That lagged the industry's overall 16 percent growth during the period, according to the General Administration of Civil Aviation.