China Airlines’ third quarter operating profit slipped 22.9% to NT$1.46 billion ($47.9 million), compared to NT$1.9 billion last year.
China Airlines’ third quarter operating profit slipped 22.9% to NT$1.46 billion ($47.9 million), compared to NT$1.9 billion last year.
Revenue for the three months ended 30 September fell by 4.9% to NT$43 billion, while costs and expenses related to operations were down by nearly as much to NT$41.5 billion.
Net profit came in at NT$340 million, 68.5% lower than NT$1.07 billion last year.
In the first nine months of 2019, the carrier’s operating profit fall 9.6% to NT$2.8 billion.
Revenue held steady at NT$126 billion, while operating costs and expenses were marginally higher at NT$124 billion.
Despite profitable business operations, the airline was NT346 million in the red, in part due to significantly higher finance costs and hedging losses.
