Hainan swings to profit

Hainan Airlines posted a CNY175.5 million ($26.3 million) third-quarter profit, reversed from a CNY260.8 million deficit in the year-ago quarter, as operating revenue soared 34.2% to CNY4.57 billion. Like other Chinese airlines, it credited a recovery in the domestic market and favorable financial policies from Beijing for the improved performance. Its third-quarter expenses climbed 18.7% year-over-year to CNY3.65 billion. Nine-month profit of CNY350.5 million compared to a CNY50.2 million surplus in the year-ago period.