Hainan Airlines's half-year net profit falls by 32% YOY

According to the latest half-year report released by Hainan Airlines on Aug. 25th, its revenue grow by 50% YOY, reaching 28.5 billion RMB, mainly due to the acquisition of stakes in Tianjin Airlines, another subsidiary of HNA Group, which paved the way for Tianjin Airlines to be listed.

However, the net profit for the 1st-half year fall dramatically by 32% YOY, at 1.14 billion RMB, a key reason behind is the soaring operational costs after the acquisition of Tianjin Airlines.

Tianjin Airlines operates 86 aircrafts before the acquisition, among them 31 are self-owned, 9 financially leased and the other 46 operationally leased.

Up to June of 2017, Hainan Airlines' fleet reaches 362 airplanes, including 139 self-owned, 50 financially leased and 173 operationally leased.