Hainan Airlines announces net income of CNY249.9 million in H1, down 25%
Hainan Airlines reported a first-half net income of CNY249.9 million ($39.4 million), down 25% over the net profit of CNY417.3 million forthe year-ago period.
The Haikou-based carrier cited the slowdown of domestic market demand, high fuel prices and the slowdown of yuan appreciation as the main reasons for the results.
Operating revenue climbed 20% to CNY13.89 billion against an increase of 20.4% in operating expense to CNY10.52 billion.
Passenger boardings jumped 14.89% to 11 million with an average load factor of 83.7%, up 0.05 points over the year-ago period. Cargo traffic volume increased 4.8% to 138,500 tonnes.
All Chinese major carriers have seen first-half profits decline.
Air China has reported a first-half net profit of CNY945 million, down 76.7% over a net income of CNY4.056 billion for the year-ago period (ATW Daily News, Aug. 29). China Southern Airlines has reported a first-half net profit of CNY449 million, down 83.7% compared to a net income of CNY2.75 billion in the year-ago period (ATW Daily News, Aug. 28). China Eastern Airlines reported a net income of CNY 806.9 million in the first half of this year, down 64.6% over a net profit of CNY 2.28 billion year-over-year.
This site contains materials from other clearly stated media sources for the purpose of discussion stimulation and content enrichment among our members only.
whatsonsanya.com does not necessarily endorse their views or the accuracy of their content. For copyright infringement issues please contact firstname.lastname@example.org