China Southern Airlines Group operating profit up 12% in 1H2019, pax yield declines

28 August, 2019

China Southern Airlines Group reported (27-Aug-2019) the following financial highlights for the six months ended 30-Jun-2019:

  • Total operating revenue: CNY72,939 million (USD10,751 million), +8.0% year-on-year;
    • Passenger: CNY65,617 million (USD9672 million), +8.7%;
      • Domestic: CNY48,424 million (USD7138 million), +7.1%;
      • International: CNY15,835 million (USD2334 million), +13.2%;
      • Hong Kong, Macau and Taiwan: CNY1358 million (USD200.2 million), +15.6%;
    • Cargo and mail: CNY4409 million (USD649.9 million), -2.0%;
  • Total operating costs: CNY69,938 million (USD10,309 million), +7.2%;
    • Flight operation: CNY34,269 million (USD5051 million), -3.0%;
    • Aircraft and transportation service: CNY12,147 million (USD1790 million), +7.5%;
  • Operating profit: CNY5226 million (USD770.3 million), +11.9%;
  • Net profit: CNY1704 million (USD251.2 million), -27.8%;
  • Passenger yield: CNY0.478 (USD 7.0 cents), -1.7%;
    • Domestic: CNY0.518 (USD 7.6 cents), -1.5%;
    • HK, Macau and Taiwan: CNY0.750 (USD 11.1 cents), +1.2%;
    • International: CNY0.378 (USD 5.6 cents), -0.8%;
  • Cargo yield: CNY4.472 (USD 65.9 cents), +0.1%;
    • Domestic: CNY5.470 (USD 80.6 cents), -0.6%;
    • HK, Macau and Taiwan: CNY8.274 (USD 122.0 cents), +1.7%;
    • International: CNY2.977 (USD 43.9 cents), +1.9%;
  • Total assets: CNY300,456 million (USD44,287 million);
    • Cash and cash equivalents: CNY1549 million (USD228.3 million);
  • Total liabilities: CNY224,385 million (USD33,074 million). [more - original PR]

*Based on the average conversion rate at CNY1 = USD0.1474