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Hainan Airlines Q1 profit dips slightly

Hainan Airlines Holding posted a 4.7% dip in its first quarter operating profit, to CNY1.63 billion ($237 million).

Revenue for the three months ended 31 March rose 11% to CNY18.6 billion, while costs for the same period increased 15% to CNY17.8 billion.

Attributable net profit was down 15% to CNY1.1 billion.

The carrier did not provide any additional commentary in its results statement posted to the Shangahai Stock Exchange.

Cash and cash equivalents at 31 March amounted to CNY28.6 billion, up from the CNY20.8 billion the same period a year ago.

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