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  • Hainan Airlines Q3 operating profit tumbles 90%

Hainan Airlines Q3 operating profit tumbles 90%

Hainan Airlines saw a 90% year-on-year tumble in its third quarter operating profit to CNY234 million ($33.5 million).

Operating revenue during the three months to 30 September rose 16% to CNY19.4 billion, but this was outpaced by a 34% jump in costs to CNY19.7 billion.

This brought attributable net profit to CNY180 million, down 89% from a year ago.

On a nine month basis, the carrier saw its operating profit fall 76% to CNY916 million.

Operating revenue rose 16.6% to CNY52.3 billion, but this was similarly outpaced by the 25.5% jump in costs to CNY53.5 billion.

Attributable net profit fell 74% to CNY729 million.

Its cash and cash equivalents as at 30 September was CNY24.9 billion, down from CNY39.1 billion a year ago.

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