China Southern Q3 profits surge

Third quarter net profit for China Southern Airlines grew ten fold over results posted for the same period in 2009. Net profit for the largest Chinese airline rose to CNY3.04 billion in the three months ended Sept. 30, according to Chinese accounting standards, from CNY284 million a year earlier. Revenue rose 45% to CNY23.16 billion, compared to CNY15.95 billion a year earlier. The strong showing was credited from an increase in global demand for air travel and foreign-exchange gains.