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Home / News / Results

CAO reports "hard earned" FY2020 earnings of US$56.2 million

Results

CAO reports "hard earned" FY2020 earnings of US$56.2 million

The Edge Singapore Published on Fri, Feb 26, 2021 / 1:13 PM GMT+8

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Jet fuel supplier China Aviation Oil has reported earnings of US$56.2 million for FY2020, down 43.7% from the preceding year, as the economic damage from Covid-19 comes to bear.

Due to the pandemic which curbed international travel and therefore demand for jet fuel which CAO supplies, revenue for the year was down 48.3% to US$10.5 billion.

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