Hainan Airlines Holding Company Limited Posted 86.6 Million Yuan Net Profit in First Quarter of 2023

Hainan Airlines Holding Company Limited (海南航空控股股份有限公司) (600221.SH) reported a net profit of 86.6 million yuan in the first quarter of 2023, reversing a net loss of 3.9 billion yuan for the same period in the previous year.

Meanwhile, the company posted 13.1 billion yuan in revenue, up 106.4% year-on-year.

At the end of the reporting period, it had 139.3 billion yuan in total assets and 137.8 billion yuan in total liabilities, with a liability-to-asset ratio of 98.9%.