China Southern Airlines reports operating profit decline, net profit halved in 2018

31 March, 2019

China Southern Airlines reported (29-Mar-2019) the following financial highlights for 2018:

  • Total operating revenue: CNY143,623 million (USD21,735 million), +12.4% year-on-year;
    • Passenger: CNY128,038 million (USD19,377 million);
    • Cargo and mail: CNY10,026 million (USD1517 million);
  • Total operating costs: CNY140,242 million (USD21,223 million), +13.9%;
    • Fuel: CNY42,922 million (USD6496 million), +34.6%;
    • Flight personnel payroll and welfare: CNY11,467 million (USD1735 million), +8.4%;
  • Operating profit: CNY8819 million (USD1335 million), -3.7%;
  • Net profit: CNY3364 million (USD509 million), -51.2%;
  • Total assets: CNY246,949 million (USD37,372 million);
  • Cash and cash equivalents: CNY6928 million (USD1048 million);
  • Total liabilities: CNY168,480 million (USD25,497 million). [more - original PR - English/Chinese]

*Based on the average conversion rate at CNY1 = USD0.151334