China Southern Airlines sees big profit fall
China’s largest carrier China Southern Airlines posted a big fall in profit, impacted by a week yuan currency.
The near-50 percent drop came despite a healthy 12% rise in revenue but was dragged down by high fuel costs.
The airline warned that the still volatile yuan currency will likely impact financial performance this year too.
Its foreign exchange losses reached 1.74 billion yuan in 2018.
The yuan fell by more than 5% against the US dollar last year.
Along with rivals China Eastern Airlines and Air China, it has grounded all its Boeing 737 Max jets.
China Southern also left the Skyteam global airline alliance in January.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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