China Southern Airlines earns huge net profit

BEIJING: China Southern Airlines Company Limited (China Southern) have shown a resurgence in profits in 2010 of the weak base of previous year because of demand to rebound.

In its annual activity report filed with the Shanghai Stock Exchange, China Southern said its net profit rose 1423.62 percent to 5.8 billion yuan (885 million) last year compared to 381 million yuan in 2009.

China Southern, the country's largest carrier by passenger capacity, said its earnings per share increased to 0.70 yuan last year, compared to 0.05 yuan in 2009. The company posted a loss of 0.74 yuan per share in 2008.

The Guangzhou-based company attributed its profit increase in 2010 with the rapid expansion of the national economy, upgrading of consumption and China's successful hosting of the Expo in Shanghai and the Asian Games.