27-Jan-2016 11:29 AM
China Southern Airlines expects 2015 net profit to more than double
China Southern Airlines predicts (26-Jan-2016) a 110%-130% year-on-year increase in net profit in 2015, up from the CNY1773 million (USD295 million) net profit it reported in 2014. The carrier attributes the profit growth forecast to increased outbound travel by Chinese nationals, weak oil prices and lower foreign exchange losses as the yuan depreciated. China Southern commented: ""The company took the initiative to deal with the sharp depreciation of renminbi and substantially reduced debt ratio denominated in US dollars, (and) therefore reduced the exchange losses from the depreciation of renminbi."[more - original PR - Chinese]