Hainan Airlines shrinks but profitable in first half

Hainan Airlines flies into profit

Hainan Airlines reported stronger operating and net profits in the six months ended 30 June-08, aided by a $66.2 million foreign currency gain (+126% year-on-year).

Hainan Airlines produced the best operating margin of the listed Chinese airlines in the first half of 2008.

Hainan’s good financial performance was produced despite it recording the weakest passenger and revenue growth in the half in its peer group.

A more disciplined approach to costs was the key to Hainan Airlines’ first half outcome – a message for its larger rivals.
Source: Travel Daily News