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    600115   CNE000000TR0

CHINA EASTERN AIRLINES CORPORATION LIMITED

(600115)
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Chinese airlines apply fuel surcharge after three-year hiatus

06/04/2018 | 11:50pm EDT
The logo of China Eastern Airlines is shown on a panel at a check-in counter at Hong Kong Airport in Hong Kong

SHANGHAI (Reuters) - Chinese carriers including Air China and China Eastern Airlines Corp will apply a fuel surcharge to domestic routes from Tuesday, the first time they have done so in three years as oil prices begin to rise.

Air China said in a statement on its website on Monday that it would begin charging 10 yuan per leg from zero previously. China Eastern said the same, but added that children and disabled military personnel would be exempt.

Spring Airlines, Hainan Airlines and Kunming Airlines also announced similar surcharges.

The same surcharge will apply to routes that are both less or more than 800 kilometers (497.1 miles) long, the airlines said. Previously, they applied different surcharges for different route lengths.

Chinese airlines scrapped fuel surcharges for domestic flights in 2015, after oil prices sank to six-year lows and pushed fuel purchase costs to below a government-set level.

But the companies do not hedge fuel buys like many of their oversees peers, which has left them vulnerable as oil prices begin to rise. Brent crude is trading just over $75 a barrel, up almost 50 percent from a year ago.

Air China's 2017 profit fell short of analysts' forecasts due to higher-than-expected operating expenses including that of fuel, costs for which it said jumped 29.2 percent to 6.42 billion yuan ($1 billion) over the year.

Airline executives meeting in Sydney this week said the industry's profitability was being threatened by fuel costs that were rising much faster than ticket prices, prompting some to lock in fuel hedges, lower capacity and raise fares.

(Reporting by Brenda Goh; Editing by Himani Sarkar)


ę Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
AIR CHINA LIMITED 1.79% 5.11 End-of-day quote.-16.23%
AIR CHINA LIMITED 0.13% 7.51 End-of-day quote.0.27%
CHINA EASTERN AIRLINES CORPORATION LIMITED 1.72% 4.74 End-of-day quote.1.28%
HAINAN AIRLINES HOLDING CO., LTD. -1.32% 2.24 End-of-day quote.47.37%
SPRING AIRLINES CO., LTD. -2.94% 53.12 End-of-day quote.-4.17%
THE EASTERN COMPANY 0.20% 24.4778 Delayed Quote.1.37%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.08% 6.4629 Delayed Quote.-1.03%
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Analyst Recommendations on CHINA EASTERN AIRLINES CORPORATION LIMITED
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Financials
Sales 2021 80 926 M 12 527 M 12 527 M
Net income 2021 -8 092 M -1 253 M -1 253 M
Net Debt 2021 159 B 24 570 M 24 570 M
P/E ratio 2021 -13,0x
Yield 2021 -
Capitalization 65 987 M 10 216 M 10 215 M
EV / Sales 2021 2,78x
EV / Sales 2022 2,00x
Nbr of Employees 81 157
Free-Float 22,2%
Chart CHINA EASTERN AIRLINES CORPORATION LIMITED
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China Eastern Airlines Corporation Limited Technical Analysis Chart | 600115 | CNE000000TR0 | MarketScreener
Technical analysis trends CHINA EASTERN AIRLINES CORPORATION LIMITED
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TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 4,74 CNY
Average target price 5,41 CNY
Spread / Average Target 14,1%
EPS Revisions
Managers and Directors
Zhou Qimin Chief Financial Officer & Vice President
Shao Yong Liu Chairman
Lijun Guo Chairman-Supervisory Board
Xue Bo Dong Independent Non-Executive Director
Hong Ping Cai Independent Non-Executive Director