Hainan Airlines reports net income of RMB249.9m in H1
Hainan Airlines reported a first-half net income of RMB249.9 million ($39.4 million), down 25% over the net profit of RMB417.3 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 RMB13.89 billion against an increase of 20.4% in operating expense to RMB10.52 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.
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