Chinese Big-three Airlines Back to Profit in Third Quarter

What’s new: China’s three largest state-owned airlines reported their first quarterly profit in three years thanks to a recovery of domestic air travel during the summer and the mid-autumn festival in late September.

Air China Ltd. swung to a net profit of 4.24 billion yuan ($580 million) in the third quarter from a net loss of 8.67 billion yuan a year ago. China Eastern Airlines Corp. Ltd. reported a net profit of 3.64 billion yuan compared with a net loss of 9.38 billion yuan a year ago. China Southern Airlines Co. Ltd. swung to a net profit of 4.2 billion yuan from a net loss of 6.1 billion yuan.