Hainan Airlines 3Q profit down; poor Tianjin Airlines results cited

Hainan Airlines reported a net profit of CNY1.6 billion ($240.3 million) in the third quarter—down 5.9% over net income of CNY1.7 billion in the year ago quarter—because of the poor financial performance of its subsidiary Tianjin Airlines. Operating revenue jumped 41.5% to CNY16.7 billion while operating expense increased by 54.8% to CNY13 billion. The carrier didn’t reveal the specific financial figures for its Tianjin-based subsidiary. In February, Haikou-based Hainan ...