Hainan Airlines posts record profit
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Hainan Airlines has posted a strong set of financial results for the six months to 30 June 2015, registering a record first half profit.
The Chinese airline generated a net profit of CNY1.6 billion (US$250 million) for the first half of 2015, up 232% compared to the same period last year. The carrier, which was founded in Hainan but now mainly operates from Beijing, attributed the surge in profits to its fleet expansion, rising passenger traffic and lower fuel costs.
Hainan Airlines carried 18.54m passengers in the first half, up 9.6% year-on-year, and recorded a strong average load factor of 88.6% – up 2.3 percentage points.
The company noted that all of its Chinese subsidiaries, including China Xinhua Airlines, Lucky Air, Fuzhou Airlines and Urumqi Airlines, made a profit in the first half.
Hainan Airlines now operates a fleet of 182 aircraft and has outstanding orders for at least 60 new aircraft, including 30 new Boeing 787 Dreamliners.
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