Hainan Airlines posted net income of CNY175 million ($25.6 million) in the first half based on domestic accounting standards, down 43.7% from the CNY311 million reported in the year-ago period, on a 3.5% decrease in operating revenue to CNY6.12 billion. Half-year operating expenses fell 5.5% to CNY5.15 billion. It is noteworthy that the carrier reported only a CNY9.2 million profit excluding government subsidies, down 96.8% from the comparable figure last year. It attributed the fall to the ...

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