Hainan Airlines returns to operating profit in 2010

Hainan Airlines revenue up 39.6% - financial highlights for the 12 months ended 31-Dec-2010 (Based on Chinese Accounting Standards):

• Total operating revenue*: USD3301 million, +39.6% year-on-year;
  • Passenger revenue: USD2792 million, +42.9%;
  • Cargo: USD125.7 million, +71.3%;
• Costs: USD2356 million, +16.9%;
• Operating profit: USD426.2 million, compared with a loss of USD10.0 million in p-c-p;
• Net profit: USD458.4 million, +800.6%;
• Passenger numbers: 18.6 million, +6.9%;
• Cargo volume: 282,500 tonnes, +19.7%;
• Passenger load factor: 81.7%, +3.7 ppts;
• Total assets: USD10,883 million, +20.6%;
• Total liabilities: USD8839 million, +11.4%;
• 2011 forecast:
  • Revenue: 3650 million;
  • Costs: USD3042 million;
  • Profit: USD608 million;
  • Passenger numbers: 20 million, +7.3%;
  • Cargo volume: 321,100 tonnes, +13.7%.

*Based on the conversion rate USD1 = CNY6.575