China Southern Airlines posts 9% increase in Q3 profit
11/01/2019|2:29:31 PM|Flightglobal

Asia's largest carrier China Southern Airlines saw its third-quarter operating profit rise 8.9% to RMB 3.34 billion (USD 473 million).

Total revenue for the period ended September 30 stood at RMB 43.7 billion, a 5.8% increase year-on-year. Total costs, meanwhile, increased 7.1% to RMB 42.2 billion.

Net profit stood at RMB 2.39 billion, 17.2% higher than the same quarter last year.

For the first nine months of the year, the carrier's operating profits fall 8.4% to RMB 5.42 billion. Revenue for the period was up 7.1% to RMB 117 billion, while costs outpaced revenue, increasing 8.1% to RMB 115 billion. Net profit declined 6% to RMB 4.08 billion.

The airline ended the period with significantly lower cash and cash equivalents — this year, the figure stands at RMB 1 billion, compared to RMB 15.7 billion for the corresponding period last year.

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