Airlines announce slower H1 growth

State-owned Chinese airlines have reported sluggish growth in the first half year, dampened by rising oil prices and the depreciation of the yuan.

Air China Ltd netted 64.24 billion yuan ($9.36 billion) in sales revenue, up 11.96 percent year-on-year. Its net profit reached 3.47 billion yuan, up 4.27 percent year-on-year, according to its latest earnings report.

China Eastern Airlines Corp Ltd's sales revenue in the first six months hit 54.42 billion yuan, up 13.33 percent year-on-year. Its net profits reached 2.28 billion yuan in the period, down 47.78 percent year-on-year.