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China Southern profits jump in 1H2011

26-Aug-2011 11:32 AM

China Southern Airlines revenue up 22% – financial highlights for the six months ended 30-Jun-2011:

  • Total operating revenue: USD6473 million, +22.1% year-on-year;
  • Government grants: 55.8 million, +82.1%;
  • Total operating costs: USD6173 million, +22.1%;
    • Fuel: USD2287 million, +34.5%;
    • Labour: USD754.7 million, +33.2%;
  • Operating profit: USD396.1 million, +43.1%;
  • Net profit: USD431.6 million, +33.4%;
  • Passenger numbers: 38.4 million, +6.1%;
  • Passenger load factor: 80.6%, +3.5 ppts;
  • Cargo volume: 536,000 tonnes, +4.7%;
  • Yield per RPK: USD 10.0 cents, +10.3%;
  • Yield per FTK: USD 25.16 cents, -8.5%;
  • Total assets: USD18,372 million, +5.7% when compared to period ended 31-Dec-2010;
  • Cash and cash equivalents: USD1743 million, +7.2% when compared to period ended 31-Dec-2010;
  • Total liabilities: USD12,926 million, +2.1% when compared to period ended 31-Dec-2010. [more]

*Based on the conversion rate at USD1 = CNY6.4

China Southern Airlines: “Looking into the second half of the year, benefit from the rapidly growing domestic economy, robust demand for air transportation and limited increase in supply from the industry, the domestic aviation market will hopefully maintain a higher level of prosperity. Meanwhile, we are also clearly aware that, the economic situation at home and abroad will become more complicated while difficulties and uncertainties in economic growth will arise in the second half of the year. Moreover, the continuous construction and operation of high-speed railway lines will also cause certain adverse impact on the aviation industry,” Company statement. Source: China Southern Airlines, 26-Aug-2011.