China Southern Q3 net profit down 3%

Singapore
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China Southern Airlines has posted a 2.6% decline in its third quarter net profit to yuan (CNY) 2.16 billion ($355 million).

For the quarter ended 30 September, the SkyTeam carrier's total revenue fell by 4.7% to CNY28.4 billion from CNY29.8 billion a year ago.

The carrier's operating costs fell by 3.7% to CNY25.9 billion, while its operating profit fell by 14% to CNY2.7 billion.

Its net profit for the first nine months of the year meanwhile fell by 7.6% to CNY2.46 billion.

In a separate statement posted on the Shanghai Stock Exchange, the Chinese carrier adds that it plans to issue 123.9 million "A" shares in a non-public offering on 6 November.