Hainan Airlines reported a net profit of CNY2.59 billion ($423 million) in 2014, up 20% over a net income of CNY2.16 billion in 2013. Operating revenue was up 8.3% to CNY36.04 billion while operating expenses increased 6% to CNY27.7 billion. Industry analysts credited domestic market growth and lower fuel prices for the carrier’s improved performance. Passenger boardings grew 15.1% to 35.6 million with an average load factor of 86.8%, up 1 point over 2013. ANA and United Airlines ...

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