Chinese airlines profits hit by weak yuan

Results posted by the three largest Chinese airlines – China Southern, Air China and China Eastern – for the first half of the year so a fall in earnings caused by a weak yuan and a slowing domestic economy. China Southern’s net profit for the period fell more than 10% to 3.11 billion yuan ($467 billion), while Air China suffered a 17.5% fall in net profit to 3.46 billion yuan. China Eastern’s net profits declined by 9.3% to 3.23 billion yuan. In the first half of 2016, the yuan depreciated by roughly 2% against the U.S. dollar, resulting in currency