China's Hainan Air sees 2007 profit up 300 pct

SHANGHAI, March 18 (Reuters) - Hainan Airlines Co (600221.SS: Quote, Profile, Research, Stock Buzz), China's fourth-largest air carrier, said on Tuesday its unaudited net profit for 2007 jumped at least 300 percent from 2006.

In January, the airline estimated the rise in profit at 200 percent.

China's airlines were buoyed last year by booming domestic demand for leisure and business travel, as well as the benefits of a rising yuan <CNY=CFXS>. Air China (601111.SS: Quote, Profile, Research, Stock Buzz) posted a 19 percent rise in second-half profit on Monday. (For details click [ID:nHKG94473])

Hainan Airlines said details of its 2007 results would be published in its annual report, which will be delayed by one week, until March 25.

The airline posted a net profit of 181.6 million yuan ($25.64 million) in 2006. ($1=7.083 Yuan) (Reporting by Edmund Klamann; Editing by Tomasz Janowski)