Hainan Airlines Holding(600221)2024-09-10 07:44Financial Performance - In the first half of 2024, the company achieved operating revenue of CNY 31.743 billion, a 15% increase year-on-year [3] - The net profit attributable to shareholders was a loss of CNY 636 million, a 60% reduction in losses compared to the previous year [3] - The company experienced a foreign exchange loss of approximately CNY 672 million [3] Operational Metrics - Total turnover volume reached 572,307 million ton-kilometers, up 23.93% year-on-year [3] - Passenger transport volume was 32.36 million, an increase of 13.71% year-on-year [3] - Cargo and mail transport volume reached 230,800 tons, a 39.28% increase year-on-year [3] - Flight operations totaled 218,200 flights, a 7.99% increase year-on-year [3] - Total flight hours amounted to 560,500 hours, up 12.30% year-on-year [3] - As of June 30, 2024, the company operated a fleet of 343 aircraft [3] Route Network - The company operated over 1,400 domestic and international routes, with nearly 1,300 domestic routes covering all provinces, autonomous regions, and municipalities [3] - International routes exceeded 100, covering 39 cities across Asia, Europe, North America, Oceania, and Africa [3] Market Insights - During the summer travel season of 2024, civil aviation passenger volume increased by 12.7% compared to the same period in 2023 [3] - Major airlines increased capacity deployment in response to market demand [3] Aircraft Management - The company plans to renew leases for narrow-body aircraft under favorable conditions and assess wide-body aircraft based on market demand [5] - Future aircraft leasing will depend on negotiations with leasing companies [5] - The company has signed multiple delivery orders for 2024-2026 to supplement capacity from retired aircraft [5] Debt Restructuring - The debt restructuring resources include funds from strategic investors, ongoing operational income, and capital reserves converted into shares [5] - Approximately 16.434 billion shares were allocated for debt restructuring, with about 1.287 billion shares still held in a special account for creditors as of June 30, 2024 [5] Personnel and Cost Management - The company currently has a sufficient reserve of pilots and specialized personnel, with plans to recruit additional staff as needed [5] - The average domestic aviation fuel price in September 2024 was CNY 6,392 per ton, a decrease from CNY 7,777 per ton in 2023 [5] - The company is actively seeking professional advice on managing exchange rate risks and considering financial derivatives [5]