24-Jan-2011 10:48 AM

China Southern Air Holding profits reach USD1.1bn in 2010

China Southern Air Holding, parent of China Southern Airlines, reported record profits of CNY7150 million (USD1085 million) in 2010 (Yicai, 21-Jan-2011). During the year, China Southern Airlines reported a 48% year-on-year increase in international revenue while cargo revenue as a percentage of total revenue rose to 7.2%. China Southern Air Holding General Manager Si Xianmin stated the group’s asset to liability ration fell from 88.7% in 2009 to 75.6% in 2010.