State-owned carriers report lower net profit in first half

State-owned Chinese carriers posted higher revenues in the first half of the year although net profits slipped because of the slower pace of travel demand along with the grounding of nearly 100 troubled B737 MAX aircraft and the postponed delivery of new jets.

From January to June, Air China Ltd recorded 65.31 billion yuan($9.1 billion) in sales revenue, up 1.67 percent year-on-year. Its net profit reached 3.14 billion yuan, down 9.49 percent over the same period a year ago, its earnings report said.

Shanghai-based China Eastern Airlines saw its sales revenue in the first half reach 58.78 billion yuan, rising 8.02 percent year-on-year. Its net profit of 1.94 billion yuan in the period represents a fall of 14.89 percent year-on-year, the company said.