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Hainan Airlines expects to return to net profit for 2021 -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. A Hainan Airlines Airbus passenger plane is photographed in Colomiers, France near Toulouse on November 26, 2018. REUTERS/Regis Duvignau/File Photo

BEIJING, (Reuters) – Hainan Airlines said Thursday that it expects to restore net profit from last year after restructuring and a rise in domestic travel.

According to a stock filing, the airline anticipates reporting a net profit between 4.5 and 6.2 Billion Yuan in 2021 ($708 Million to $975 Million) after having suffered a loss totaling 64 billion Yuan one year ago.

The indebted HNA Group, which includes Hainan Airlines and other core aviation businesses, transferred control to Liangning Fangda Group Industrial. This ended a long-running debt crisis at one China’s largest conglomerates.

($1 = 6.3604 renminbi)

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