China Southern Airlines has reported a net profit of yuan (CNY) of 2.62 billion ($422 million) for the year 2012, a decrease of 49% compared with CNY5.11 billion in the previous year.
The Guangzhou-based carrier's revenue for the year ended 31 December rose by 10% to CNY99.5 billion from CNY90.4 billion, while its expenses increased by a similar amount to CNY95.9 billion from CNY87 billion the year before.
Operating profit increased by 17% to CNY5 billion, compared with CNY4.3 billion in 2011.
Total RPKs rose by 10.8% during the year as domestic RPKs increased by 7.6% and international RPKs grew by 24.9%. Regional traffic, which refers to traffic from Hong Kong, Macau and Taiwan, increased by 21.8%.
Overall passenger numbers increased by 7.2% to 86.4 million as domestic passengers increased by 6.5% to 77.6 million, regional passengers were up by 9.2% to 1.9 million and international passengers increased by 15.7% to 6.9 million.
Total capacity, as measured in ASKs, increased by 12.2%. Domestic ASKs rose 9.4%, regional ASKs increased by 25.9% and international ASKs were up by 23.1%. The overall load factor fell by 1.4 percentage points to 79.9%.
Cargo volumes overall increased by 8.5% to 1.23 million tonnes.