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20 Hainan A overwrapping machine irlines posts RMB 1.42 bln net losses for 2008 Hainan A overwrapping machine irlines posts RMB 1.42 bln net losses for 2008
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Hainan Airlines posts RMB 1.42 bln net losses for 2008Published: 25 May 2009 00:28:24 PSTTop 5 News From ChinaKnowledge.comFar Eastern Bank to acquire AIG’s Taiwan credit card businessChina Minsheng to issue 15 mln credit cards in next 3 yearsPetroChina to acquire 45% stake in Singapore PetroleumLottemart set to expand in ChinaHenderson Land starts selling 1st 20 flats at 8 Royal GreenMay. 25, 2009 (China Knowledge) – Hainan Airlines Co Ltd<600221><900945>, China’s fourth largest airline in terms of fleet size, on Saturday posted a net loss of RMB 1.42 billion for 2008, whereas it posted a net profit of RMB 627 million in 2007, the official Xinhua News reported.The Hainan Province-based company’s statement said rising jet fuel prices in the first half of last year and weakening demand amid the global financial crisis in the second half of last year were the two main reasons for its net loss.In 2008, Hainan Airline flew a total of 118,854 flights, representing a year-on-year decline of 19.1% from 2007.The company also said its net profit slumped 89% year on year to RMB 32.82 million in the first quarter of 2009.The company will receive RMB 3-billion in capital injection from the local government and its parent company. The airline will issue about 300 million new shares each to the local government and its parent at about RMB 5 per share in exchange for the new capital, which is expected to improve its financial situation and cut its debt ratio to around 81%. Copyright © 2009 http://www.chinaknowledge.com競馬新聞 小额贷款 打标机 港澳游 摆线针轮减速机 上海翻译公司 门禁 クレジットカード現金化
