Hainan Airlines reported a net profit of CNY651.4 million ($92.2 million) in 2007, nearly quadrupling the CNY166.8 million earned the previous year, on a 3% lift in operating revenue to CNY12.82 billion. Operating expenses fell 0.4% to CNY10.29 billion, although fuel costs jumped to 40% of the total. Like its peers, HNA credited strong domestic demand and the rising yuan for its success, while also citing a "substantial improvement" in aircraft utilization for its impressive financial ...

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