China Southern expects 5,000% profit rise

China Southern Airlines said yesterday it expects its first-half net profit to rise more than 5,000 percent from a year earlier because of increased demand for air travel, a disposal gain and a low comparison base in the first six months of last year, reported Dow Jones Newswires.

The Guangzhou-based carrier had a net profit of US$5.56 million for the six months ended June 30, 2009 based on Chinese accounting standards.

The company completed the disposal of its equity interest in MTU Maintenance Zhuhai in the first quarter.
(Source:www.cargonewsasia.com)