Net Profits Down At Chinese Carriers

China Southern Airlines and Xiamen Airlines have both confirmed their net profits fell in 2014.

China Southern Airlines and Xiamen Airlines have both confirmed their net profits fell in 2014.

China Southern said net profit dropped 10.5 per cent last year, citing slowing growth in the Chinese economy and high-profile global aviation accidents.

In a statement to the Hong Kong stock exchange, China Southern confirmed its net profit was 1.8bn yuan ($292m), from 2013’s 2bn yuan ($320m).

However, operational revenue rose 10.2 per cent to 109bn yuan ($1.75bn) and passenger numbers increased by 9.9 per cent to 101 million.

Xiamen, which China Southern owns a 51 per cent stake in, said its net profit was down 41.6 per cent for last year.

This was despite its passenger numbers growing by 9.6 per cent to 20.4 million.

TAGS: Asia Pacific
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