China Southern Airlines operating profit up 17% in 2012
China Southern Airlines revenue up 10% - financial highlights for 12 months ended 31-Dec-2012:
- Revenue: CNY99,514 million (USD15,767 million), +10.1% year-on-year;
- Passenger: CNY89,544 million (USD14,187 million), +9.9%;
- Cargo: CNY6556 million (USD1039 million), +13.8%;
- Operating costs: CNY95,877 million (USD15,191 million), +10.1%;
- Fuel: CNY37,401 million (USD5926 million), +14.5%;
- Operating profit: CNY5099 million (USD4353 million), +17.1%;
- Net profit: CNY2619 million (USD415 million), -48.7%;
- Passenger numbers: 86.5 million, +7.2%;
- Passenger load factor: 79.9%, -1.1 ppt;
- Cargo volume: 1.2 million tonnes, +8.5%;
- Yield: CNY0.66 (USD 10.5 cents), -1.5%;
- Total assets: CNY142,454 million (USD22,571 million), +10.1%;
- Total liabilities: CNY102,720 million (USD16,275 million), +12.1%. [more - original PR]
*Based on the average conversion rate at USD1 = CNY6.3115
China Southern Airlines: "Looking into 2013, global economy will undergo a moderate recovery. However, there are still uncertainties prolonging the weak growth. China's economic development will remain in a period of strategic opportunities and is expected to recover moderately in 2013, which, however, affected by adverse factors such as domestic macroeconomic control and weak external demand, will not be a robust rebound. Under the influence of the overall global economic environment, demand for international aviation is expected to maintain its low growth rate in 2013. Driven by the moderate recovery of China's economy, industrialisation, urbanisation, informatisation, agricultural modernisation and implementation of the double income plan, overall demand in China's aviation market is expected to gradually pick up speed." Source: Company statement, 27-Mar-2013.