Home / Business / Companies

Hainan Airlines' net profit down 26.74% in 2012

By Wang Wen | | Updated: 2013-03-15 16:22

Hainan Airlines, the fourth-largest airline in China, reported a net profit of 1.93 billion yuan ($310 million) in 2012, down 26.74 percent year-on-year, the carrier said in its annual report released on Thursday.

The carrier's revenue was 28.87 billion yuan in 2012, up 9.87 percent year-on-year, due to the increase of its fleet, it said.

Higher human resources and agency services costs led to a 46.55 percent year-on year rise of the carrier's expenses.

The air passenger and freight transport of Hainan Airlines was 4.2 billion ton-km in 2012, up 7.56 percent year-on-year, and its average load factor was 84.44 percent.

Stiffer competition in China's civil aviation industry, the slow growth of the cargo market and the development of the high-speed rail network all had a negative effect on China's airlines last year.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349