China’s Hainan Airlines has reported a net income of CNY2.1 billion ($337 million) for 2013, up 9.2% over the net profit of CNY1.9 billion in 2012. According to the Haikou-based carrier’s filing released by the Shanghai Stock Exchange, operating revenue rose 4.71% to CNY30.23 billion on operating costs that rose 9% to CNY23.5 billion. Industry analysts credited “exchange gains resulting from the yuan appreciation” as the main contributor to the improved ...

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