Hainan Airlines faces another difficult year

Consistent with outcomes for most of China’s airlines, 2008 was a bleak year financially for Hainan Airlines, with a drastic turnaround from profit to loss being experienced. The carrier has sought government financial support to ease it through a very challenging start to 2009. [1127 words]

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This report contains the following subheadings:

• Share price reflects the airlines results
• New capital raising approved
• Fleet purchases are down in 2009
• Network growth continues, with a range of international destinations in the frame
• HNA to partner in a new regional airline

This report contains the following charts and tables:

• Hainan Airlines - consolidated financial highlights for 12 months ended 31-Dec-08
• Hainan Airlines - financial highlights for 1Q09 ended 31-Mar-09
• Hainan Airlines - forecasts for 12 months ending 31-Dec-09
• Hainan Airlines passenger number growth and cargo volume growth: Jun-2008 to May-2009
• Hainan Airlines share price growth May-2008 to Jun-2009