21-Jan-2010 9:26 AM

China Southern expecting to return to profitability in FY2009

China Southern Airlines stated (20-Jan-2010) it expects to return to profitability in FY2009 (01-Jan-2009 to 31-Dec-2009), following losses in 2008, although no specific details were provided. During 2008, the carrier reported a net loss of CNY482.9 million (USD71 million), with a loss per share of CNY0.74 (USD0.11). [more]

China Southern Airlines: "The demand for aviation and transportation services is gradually recovered as a result of positive factors such as the slow global economic recovery and the domestic economic rebound. In addition, the profits of the Company for the 2009 financial results substantially improves because of the decrease in cost of fuel compared to the same period in 2008 and our adoption of various measures to increase our revenue and to lower our cost," Company Statement, 20-Jan-2010.