Hainan Airlines, China’s fourth-largest air carrier, plans to add 17 new aircraft to its fleet this year, including 12 Boeing 737-800 jets, two Airbus A330s and three Airbus A340s.

The company also reported a 290% increase in net profit for 2007 to RMB651.39 million ($92.32 million), while sales rose 6% to RMB13.56 billion.

Its new aircraft plan for 2008 includes the purchase of 10 B737-800s at a total price of about RMB3.5 billion, while the remaining seven aircraft will be leased.

China’s airlines have been bolstered by booming domestic demand for leisure and business travel.
Source: Reuters, also Reuters