China Southern reports net profit up 30% in 2016
China Southern Airlines reported a net profit of CNY5.06b (US$734m) in 2016, up 30% over a net income of CNY3.9b in 2015. Operating revenue for the year rose 3% to CNY114.8b while operating expenses increased 5.5% to CNY96.4b. Industry analysts cited continuous market demand growth, lower oil prices and reduced exchange losses as main reasons for the company’s improved performance. The carrier’s fuel expenses fell 9.4% to CNY23.8b and its financial costs dropped 25.4% because exchange losses were CNY3.3b, down CNY2.4b over 2015. Passenger capacity rose 8.7% to 256b ASKs against an 8.7% increase in passenger revenue to 206.1b RPKs. Passenger boardings grew 4.8% to 114.6m and load factor stayed flat at 80.5% year-over-year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-04-03/sky/china-southern-reports-net-profit-up-30-in-2016
https://portal.staralliance.com/cms/logo.png
China Southern reports net profit up 30% in 2016
China Southern Airlines reported a net profit of CNY5.06b (US$734m) in 2016, up 30% over a net income of CNY3.9b in 2015. Operating revenue for the year rose 3% to CNY114.8b while operating expenses increased 5.5% to CNY96.4b. Industry analysts cited continuous market demand growth, lower oil prices and reduced exchange losses as main reasons for the company’s improved performance. The carrier’s fuel expenses fell 9.4% to CNY23.8b and its financial costs dropped 25.4% because exchange losses were CNY3.3b, down CNY2.4b over 2015. Passenger capacity rose 8.7% to 256b ASKs against an 8.7% increase in passenger revenue to 206.1b RPKs. Passenger boardings grew 4.8% to 114.6m and load factor stayed flat at 80.5% year-over-year. <br/>
