Hainan Airlines nets US$99m in govt support in 2018
Hainan Airlines and its subsidiary carriers received CNY667m (US$99m) in govt support in 2018, primarily as subsidies for aviation services. The amount was equivalent to 20% of the airlines’ net profit for the year, the company said in a Jan 29 Shanghai Stock Exchange report. Subsidies for aviation services amounted to CNY563m, the airline said; the remainder likely included such things as rewards from cities for increasing traffic at their airports. The subsidies do not include capital transactions, such as several in which municipal govts have purchased larger stakes in local airlines set up by parent company HNA Group. An aviation support services company in Beijing, also a subsidiary of Hainan Airlines, was another recipient of the funds. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-01-31/unaligned/hainan-airlines-nets-us-99m-in-govt-support-in-2018
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Hainan Airlines nets US$99m in govt support in 2018
Hainan Airlines and its subsidiary carriers received CNY667m (US$99m) in govt support in 2018, primarily as subsidies for aviation services. The amount was equivalent to 20% of the airlines’ net profit for the year, the company said in a Jan 29 Shanghai Stock Exchange report. Subsidies for aviation services amounted to CNY563m, the airline said; the remainder likely included such things as rewards from cities for increasing traffic at their airports. The subsidies do not include capital transactions, such as several in which municipal govts have purchased larger stakes in local airlines set up by parent company HNA Group. An aviation support services company in Beijing, also a subsidiary of Hainan Airlines, was another recipient of the funds. <br/>
