China Southern Airlines Records Revenue IncreaseHong Kong-listed China Southern Airlines earned an operating revenue approximately worth 13 billion yuan (US$ 1.57 billion) in 1999, an increase of 12.2 percent over 1998.As one of the largest airline companies in China, China Southern Airlines continued to rank first among its Chinese counterparts in terms of passengers carried, number of weekly scheduled flights, flying hours, number of routes and size of air fleet. Announcing the 1999 annual results Thursday, China Southern Airlines' Vice Chairman Yan Zhiqing attributed the profit rebound mainly to the recovery of Asian economies, restriction on airfare discounts by CAAC and continued growth in cargo capacity. "China Southern Airlines accounted for approximately 25 percent and 23 percent, respectively, in total passengers and cargo carried on domestic routes in 1999," said Yan, adding that the airline still maintains a dominant position in the domestic market. |
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