China airline trio suffers first profit drop in 5 years

Soaring fuel prices and weak yuan take a bite out of earnings

20190401N China Air Boeing 737 Max

A delivery ceremony for the first Boeing 737 Max 8 passenger jet, which was grounded after two crashes, for Air China last year. © Reuters

YUSUKE HINATA, Nikkei staff writer

GUANGZHOU -- Aggregate net profit at three major Chinese airlines fell 34% in 2018, the first drop in five years, as higher fuel costs offset healthy demand for Asian travel.

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