China Southern: 2008 profit worries realised; calls for more government aid
China Southern's profit warning earlier this year was realised with the airline reporting a worse than expected net loss of USD705.8 million for the 12 months ended 31-Dec-08, compared to a profit of USD269 million in 2007. The airline's 1.6% increase in revenue, to USD8.1 billion, was not enough to offset a 16.6% increase in operating costs, which amounted to USD9.0 billion.
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