China’s Hainan Airlines has incurred CNY3.6 billion ($523 million) loss for 2018, reversed from a net profit of CNY3.3 billion in 2017, ending its profit-making run. Including non-recurring items, the HNA Group subsidiary’s total loss was CNY4.08 billion—the only carrier among the top four Chinese airlines that was not profitable in 2018. Hainan’s saw its total revenue increase 13% year-over-year (YOY) to CNY67.7 billion, but operating costs increased 21.3% YOY to ...

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