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China Southern Airlines reports USD18m operating loss in 1H2013

27-Aug-2013 9:49 AM

China Southern Airlines revenue down 2% - financial highlights for six months ended 30-Jun-2013:

  • Total operating revenue: CNY46,205 million (USD7400 million), -1.6% year-on-year;
    • Passenger: CNY41,565 million (USD6657 million), -1.6%;
    • Cargo: CNY2930 million (USD469 million), -6.0%;
  • Total operating costs: CNY46,621 million (USD7467 million), +1.7%;
    • Fuel: CNY17,122 million (USD2742 million), -7.6%;
    • Labour: CNY6735 million (USD1079 million), +12.8%;
  • Operating profit (loss): (CNY114 million) (USD18 million), compared to a profit of CNY1772 million (USD284 million) in p-c-p;
  • Net profit: CNY344 million (USD55 million), -18.9%;
  • Passenger numbers: 43.8 million, +6.3%;
  • Passenger load factor: 80.1%, +0.8 ppt;
  • Cargo volume: 590,000 tonnes, +2.3%;
  • Yield per RPK: CNY0.59 (USD 9.4 cents), -10.6%;
    • Domestic: CNY0.60 (USD 9.6 cents), -11.8%;
    • Hong Kong, Macau and Taiwan: CNY0.85 (USD 13.6 cents), +1.2%;
    • International: CNY0.50 (USD 8.0 cents), -5.7%;
  • Yield per CRTK: CNY1.47 (USD 23.5 cents), -8.1%;
  • Total assets: CNY150,902 million (USD24,169 million);
  • Cash and cash equivalents: CNY9412 million (USD1507 million);
  • Total liabilities: CNY111,022 million (USD17,781 million). [more - original PR]

*Based on the average conversion rate at USD1 = CNY6.2437

China Southern Airlines: “In the second half of the year, the Company will continue to ensure the aviation safety and gradually to establish the long-term mechanism of safety management. The Company will pay close attention to the market change in order to firmly grasp business opportunity during the peak season, make timely adjustment on market strategy and improve the operational quality. The Company will increase the sense of crisis, strengthen the transit sales, accelerate the service transformation while maintain the strategic transformation. The Company shall intensify its effort to promote an effective and comprehensive budget management.” Source: Company statement, 26-Aug-2013.