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China Eastern Profit Tumbles 65% on Fuel Costs, Currency

China Eastern Airlines Corp., the nation’s second-largest carrier by passengers, said first-half profit tumbled 65 percent because of higher fuel costs and currency losses.

Net income fell to 806.9 million yuan ($127 million) from 2.28 billion yuan a year earlier, the Shanghai-based airline said in a Hong Kong stock exchange filing yesterday. That compares with the 786 million-yuan average of three analysts’ estimates in a Bloomberg News survey. Sales rose 5.6 percent to 40.2 billion yuan.