Hainan Airlines reports net profit of RMB669.52m in H1 of 2011

Hainan Airlines (HU) reported a first-half net profit of RMB669.52 million ($104.7 million), up 20.2% compared to net income of RMB556.83 million in the year-ago period, owing to "robust growth of domestic market demand."

Operating revenue jumped 19.6% to RMB11.56 billion while operating expenses rose 18.1% to RMB8.74 billion. Passenger boardings rose 4.3% to 9.6 million with an average load factor of 83.7%, up 2.5 points year-over-year. Cargo traffic volume decreased 2.3% to 132,100 tonnes. Average aircraft utilization rate reduced 10.9% to 9.46 hrs.
 
As of June 30, the Haikou-based carrier operated a total fleet of 105 aircraft, comprising six Boeing 737-300s, nine 737-400s, 72 737-800s, three Airbus A330-300s, seven A330-200s, three A340-600s, three 767-300s and two 737-700s.

Separately, HU announced its three subsidiaries also earned healthy first-half profits. Beijing-based China Xinhua Airlines earned a net profit of 197.9 million, Xi'an-based Chang'an Airlines posted a net income of 51.1 million and Taiyuan-based Shanxi Airlines reported a net profit of 27.4 million.