Manufacturing Industry
China Southern reports reduction in third quarter profit
Airline Industry Information, Oct 26, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
China Southern Airlines, China's biggest airline, has announced that its third quarter 2004 profit has fallen by 45% due mainly to the rising cost of fuel.
The airline posted a profit of CNY208.12m, down from CNY381.82m in the same period in 2003, on the Shanghai Stock Exchange on 26 October 2003.
China Southern said that the fall in profit was down to the 60% rise in the cost of fuel compared to the third quarter of 2003, reports Reuters.
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