China Southern 2011 net profit falls to CNY6.09bn

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China Southern Airlines has reported a net profit of yuan (CNY) 6.09 billion ($967 million) for the year 2011, a decrease of 5% compared with CNY6.41 billion in previous year.

The Guangzhou-based carrier's revenue for the year ended 31 December rose by 18.2% to CNY90.4 billion from CNY76.5 billion, while its expenses increased by 23.2% to CNY87.0 billion from CNY70.7 billion in 2010.

Operating profit in 2011 declined by 30.7% to CNY4.35 billion, compared with CNY6.28 billion last year.

Total RPKs rose by 9.9% during the period from a year ago. Domestic RPKs were up 6%, regional RPKs grew by 16.4% and international RPKs rose by 32.6%. Regional traffic refers to that from Hong Kong, Macau and Taiwan.

Overall passenger numbers increased by 5.5% to 80.7 million. Domestic passenger numbers were up 4.6% to 72.9 million, regional passenger numbers rose by 12.3% to 1.76 million and international passenger numbers grew by 16.1% to 5.98 million.

Total capacity, as measured in ASKs, grew by 7.5%. Domestic ASKs rose by 2.6%, regional ASKs were up by 17.0% and international ASKs increased by 34.1%, while its overall passenger load factor rose by 1.8 percentage points to 81%.

On the cargo front, total volumes were up 1.6% to 1.13 million tonnes.