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

The company also reported a 290 percent increase in net profit for 2007 to CNY651.39 million yuan (USD$92.32 million), while sales rose 6 percent to CNY13.56 billion.

The company had announced last week that it expected a 300 percent rise in 2007 net profit.

Its new aircraft plan for 2008 includes the purchase of 10 B737-800s at a total price of about CNY3.5 billion, while the remaining seven aircraft will be leased.

China's airlines have been bolstered by booming domestic demand for leisure and business travel, as well as the benefits of a rising yuan.