Hainan Airlines reports strong profit growth in 1H2011

Hainan Airlines revenue up 20% - financial highlights for the six months ended 30-Jun-2011 (according to Chinese Accounting Standards):

• Revenue: USD1807 million, +19.6% year-on-year;
• Operating costs: USD1365 million, +18.1%;
• Operating profit: USD124.8 million, +62.9% year-on-year;
• Net profit: USD104.6 million, +20.2%;
• Passenger numbers: 957,320, +4.4%;
• Passenger load factor: 83.7%, +2.5 ppts;
• Cargo volume: 132,100 tonnes, -2.3%;
• Total assets: USD11,931 million, +6.7% when compared to period ended 31-Dec-2010;
• Total liabilities: USD9724 million, +7.1% when compared to period ended 31-Dec-2010.

*Based on the conversion rate at USD1 = CNY6.4