Hainan Airlines’ (600221) 2010 net profit grew 800.56 percent to 3.01 billion yuan, reports 163.com, citing a company filing. Sales revenues rose 39.6 percent to 21.71 billion yuan, and basic earnings per share climbed 722.22 percent to 0.74 yuan. It plans to distribute cash dividends of 0.5 yuan (including tax) for every 10 shares held.
The airliner predicts that 2011 traffic mileage could hit 4.01 billion tons and tourism passenger throughput could hit 20 million.
This year’s net profit is projected to total four billion yuan. In order to meet 2011 operating targets, the airliner reportedly requires 28 billion yuan worth of capital, which will be financed via bank loans, short-term financing bills and other sources.
SOURCE: capitalvue.com
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