BEIJING : Hainan Airlines expects to return to net profit for last year following restructuring and a pickup in domestic travel, the carrier said on Thursday.
The airline expects to report a 2021 net profit of between 4.5 billion yuan and 6.2 billion yuan after suffering a loss of 64 billion yuan a year earlier, it said in a stock filing. In early December, the indebted HNA Group transferred management of its core aviation business, including Hainan Airlines, to strategic investor Liangning Fangda Group Industrial, wrapping up a years-long debt crisis at one of China's highest flying conglomerates.
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