Airline News
China Southern reports record profit and access to new funds
September 7th 2015
Guangzhou’s China Southern Airlines last week posted a 3.48 billion yuan ($547 million) first-half net profit, reversed from a 1.02 billion net loss in the corresponding year-ago period. The SkyTeam carrier said growing international business, lower fuel costs and reduced currency losses were the main reasons for the record performance. Read More »
China Southern’s passenger boardings increased 12.9% to 53.48 million, with an average load factor of 80.9%, up 2.15% year on year. Passenger revenue rose 17.2%, to 91.3 billion RPKs, against a 14.8% increase in passenger capacity to 112.9 billion ASKs. Cargo traffic volume grew 7.47% to 712,640 tons.
Following the results presentation, the carrier issued 14 billion yuan in “super short-term commercial papers” to acquire fresh assets.
