China Southern Airlines forecasts up to USD55m net loss in 1Q2014 on exchange losses

China Southern Airlines stated (15-Apr-2014) the carrier expects to report a net loss in the range of CNY300 million (USD46.9 million) to CNY350 million (USD54.7 million) for three months ended 31-Mar-2014, compared to a net profit of CNY57 million (USD8.9 million) in 1Q2013. For the reporting period, the carrier said: "the financial expenses of the Company substantially increased as compared with the corresponding period of 2013 due to the exchange losses (as compared with the exchange gains for the corresponding period of 2013) resulting from the substantial depreciation of Renminbi." [more - original PR - English/Chinese]