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Hainan Airlines reports US$544 million Q1 net loss
May 5th 2022
Hainan Airlines has reported a net loss of 3.6 billion yuan (US$544 million) for the three months to March 31 compared with a net loss of 2.6 billion yuan in the same months in 2021, FlightGlobal reports, citing a financial statement from the company. Read More » Revenue was down 18%, year-on-year, at 6.4 billion yuan, but costs were 9% lower, at 10.2 billion yuan. In late 2021, Liaoning Fangda Group Industrial Co. Ltd was named a strategic investor in HNA Group's airline businesses, which apart from Hainan Airlines include holdings in Beijing Capital Airlines and Hong Kong Airlines.
