China Southern warns of 1H net loss

Singapore
Source:
This story is sourced from Pro
See more Pro news »

China Southern Airlines expects to post a net loss between RMB900 million to 1.1billion ($145 million to $177 million) for its fiscal first half ending 30 June.

This is sharply off its net profit of RMB302 million for the first six months of 2013, says the Guangzhou-based carrier in a stock exchange statement.

China Southern attributes the shortfall to losses stemming from a weaker Chinese currency and slower economic growth in China.