China Southern Airlines reports sharp operating profit growth in 1H2015

China Southern Airlines revenue up 6% - financial highlights for six months ended 30-Jun-2015:

• Total operating revenue: CNY53,359 million (USD8711 million), +6.2% year-on-year;
• • Passenger: CNY48,141 million (USD7859 million), +6.9%;
  • Cargo and mail: CNY3195 million (USD522 million), -3.3%;
• Total operating costs: CNY48,529 million (USD7923 million), -3.8%;
• • Fuel: CNY13,261 million (USD2165 million), -27.7%;
  • Labour: CNY8685 million (USD1418 million), +13.9%;
• Operating profit: CNY5985 million (USD977 million), +672%;
• Net profit: CNY4095 million (USD669 million), compared to a loss of CNY814 million (USD133 million) in p-c-p;
• Passenger numbers: 53.5 million, +12.9%;
• Passenger load factor: 80.9%, +2.2 ppts;
• Cargo volume: 712,640 tonnes, +7.5%;
• Total assets: CNY188,175 million (USD30,720 million);
• Cash and cash equivalents: CNY9605 million (USD1568 million);
• Total liabilities: CNY138,849 million (USD22,668 million). [more - original PR - English/Chinese]

*Based on the average conversion rate at USD1 = CNY6.1254

China Southern Airlines: "In the second half of 2015, as the series of measures introduced by China for maintaining growth is gradually taking effects, and there are more positive factors in the domestic economic development, the Company will continue to be benefited from the falling oil prices and the increased demand for travel from China and other emerging economies. However, China's economy will continue to come under severe downside pressure, when other uncertainties such as oil prices, exchange rates and interest rates persist." Source: Company statement, 28-Aug-2015.