China Southern Airlines 2010 profits surge 14 folds
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China Southern Airlines, the country's largest airline by passenger numbers, estimated on Tuesday that its 2010 profits would jump by 14 folds year on year to its record high of 5.37 billion yuan (813 million U.S. dollars).
The Guangzhou-based carrier said in its preliminary annual report that travel boom against the backdrop of steady economic growth last year boosted its profits. Improved services and the stronger Chinese currency were also factors behind the increase.
Chinese airlines pocketed higher profits in 2010. China Eastern, another leading carrier, said last Tuesday that its 2010 profit would hit a record high of 5.4 billion yuan, 10 times that of 2009.
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