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Hainan Airlines first half profit falls 55%

Hainan Airlines Group posted an operating profit of CNY683 million ($100 million) for the first half of 2018, a 55% year-on-year decline from the same period last year.

Revenue for the six months to 30 June rose 16% to CNY32.9 billion.

Attributable net profit fell by 52.2% to CNY548 million, down from the CNY1.15 billion figure recorded last year.

During the January-June period, Hainan Airlines group carriers transported 39.3 million passengers, a 14.8% annualised increase. Cargo and mail volume jumped 16.2% to 263,300t.

At 30 June, the group carriers operated 420 aircraft.

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