Chinese carriers post record profits

Surging travel demand and currency appreciation offset rising oil prices

Major airlines in China reported strong growth in annual profits as surging travel demand and yuan appreciation helped offset adverse factors such as rising oil prices.

China Eastern reported sales revenue of 101.7 billion yuan ($16.2 billion) in 2017, up 3.21 percent year-on-year. During the same period, its net profit reached 6.35 billion yuan, surging 40.91 percent, according to its latest earnings report.