BEIJING - Hainan Airlines Co, China's fourth-largest carrier, on Thursday reported a net profit increase of 15.88 percent year on year in 2015, despite the competitive environment.

In its annual report filed to the Shanghai Stock Exchange, the company said its net profits hit 3 billion yuan ($461 million) last year.

Revenue stood at 35.23 billion yuan, down 2.27 percent year on year. Earnings per share was 0.25 yuan, compared with 0.21 yuan in 2014.

Passenger revenue was 32.1 billion yuan, accounting for nearly 97 percent of total revenue.

The airline transported 38.6 million passengers last year, up 8.43 percent from a year earlier, the statement said.

The company added 39 new planes to its fleet in 2015, and retired six. By the end of December, it had 202 planes in service.