China Southern first half profit soars 8,184pc to US$304 million

CHINA Southern Airlines has announced a half-year net profit increase of 8,184 per cent year on year to CNY2.07 billion (US$304 million) partly because of growing demand, but mostly because of the CNY1.6 billion sale of its Zhuhai maintenance unit to its parent, China Southern Air Holding Company.

Revenue was up 40 per cent to CNY33.94 billion year on year with cargo volume rising 37.6 per cent to 512,000 tonnes.

The airline said growth in the second half would not rise much because of keener competition arising from the recovery of the global economy as well as from more high-speed rail services in China.

The company will respond with improved services to Guangzhou, Beijing and Urumqi. It also plans to increase flights to southeast Asia, Europe and the US.

The Guangzhou-based airline will launch a branding campaign in the second half to link itself to the Guangzhou Asian Games in November.
(Source:www.schednet.com)