China South­ern Air­lines records Q1 profit de­cline

China Daily (Canada) - - NEWS CAPSULE -

China South­ern Air­lines, the coun­try’s big­gest car­rier by pas­sen­ger vol­ume, said its net profit fell 42.44 per­cent yearon-year to $220 mil­lion (1.55 bil­lion yuan) in the first quar­ter of 2017, at­tribut­ing the loss to ris­ing global fuel prices.

The com­pany’s business rev­enue rose 10.58 per­cent from the same pe­riod last year to 30.97 bil­lion yuan in the first quar­ter, ac­cord­ing to the re­port. Earn­ings per share stood at 0.16 yuan.

The Guangzhou-based sta­te­owned op­er­a­tor an­nounced in late March that Amer­i­can Air­lines would spend $200 mil­lion to buy a stake in the com­pany, which is push­ing progress in its mixed-own­er­ship re­form. (Photo 1)

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