Hainan Airlines reports sharp rise in profits in 3Q2011

Hainan Airlines revenue up 28% - financial highlights for three months ended 30-Sep-2011 (according to Chinese Accounting Standards):

• Operating revenue: USD1228 million, +28.3% year-on-year;
• Operating costs: USD771.8 million, +27.1%;
• Operating profit: USD292.4 million, +30.5%;
• Net profit: USD253.1 million, +31.3%;
• Total assets: USD12,103 million, +7.5% when compared to period ended 31-Dec-2010;
• Total liabilities: USD9840 million, +7.6% when compared to period ended 31-Dec-2010.

*Based on the conversion rate at USD1 = CNY6.3544