China Southern’s 2012 profit down 48.2%

China Southern Airlines reported a 2012 net profit of CNY2.62 billion ($417.4 million), a 48.2% drop from net income of CNY5.08 billion in 2011. Operating revenue rose 9.5% to CNY101.48 billion while operating expenses increased 11.7% to CNY85.93 billion. The rise in expenses was mainly owing to a...

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