China Southern more optimistic on government bailout, improved traffic
China Southern Airlines' parent has applied to Beijing for CNY3 billion (USD439 million) in emergency government aid, which is likely to be provided by the end of the year. China Southern has been calling for a government cash injection for almost a year. The move comes as the Guangzhou-based carrier shows tangible signs of recovery, with Oct-08 passenger numbers rising 8.2% year-on-year - the first positive month since Apr-08 and the strongest increase since Feb-08. Cargo volumes are also recovering and could return to positive territory next month on recent trends.
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