Chinese carrier prepare for economic slowdown

Victoria
By Victoria April 16, 2012 19:50

Chinese carrier prepare for economic slowdown

China Southern Airlines has stated that it expects its net profit in the first quarter to fall by over 50% in line with a slowing Chinese economy and rising jet fuel prices.
“Due to the factors including the slowdown in the domestic economic growth and the substantial increase of jet fuel prices, the operating results of the company declined in the first quarter of 2012,” China Southern said in a statement on the Hong Kong stock exchange.
“In addition, the slowdown in the pace of appreciation of renminbi against U.S. dollar has also brought the substantial decrease of exchange gain in the first quarter of 2012.”

Victoria
By Victoria April 16, 2012 19:50
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