China Southern to spin off its profitable cargo division for listing on Shanghai Stock Exchange

China Southern Airlines reported thrice the amount of loss, widening by 170% to CNY32.7 billion, and revenue dropped by 14.3% to CNY87.1 billion as per the financial report released on the Hong Kong stock exchange. On the other hand, the logistics arm of the airline, Southern Air Logistics reported a net profit of $667.9 million and revenue of CYN 21.5bn. Going ahead, as a part of its business development China Southern plans to make its profitable logistics unit a standalone company and take it public on the Shanghai Stock Exchange. China Southern Air Logistics will still be controlled by China