Rising wages in China have stoked domestic travel demand and IATA expects this to continue over the next five years. As a result of this growth environment, profits in China Southern Airlines rose nearly 18-fold last year. Net income was 5.8 billion yuan ($883 million) in 2010 up from 330 million yuan in the previous year – far surpassing analysts’ expectations of 5.7 billion yuan. Sales grew 40% to 76.5 billion yuan as passenger numbers rose 15%. China Southern profits are expected to fall despite benefiting from the yuan’s 3.4% appreciation against the dollar last year as the airline books

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