China Southern Airlines Company Limited Issues FY 2009 Net Profit Guidance In Line With Analysts' Estimates
January 21, 2010 |
| China Southern Airlines Company Limited announced that it expects a net profit for fiscal 2009, compared to the net loss of fiscal 2008 (RMB -4,829,000,000). The Company cited the continue steady growth of industrial business and stable corporate cost as the economy recovery, lower oil price and cost controls for the positive financial outcome. According to Reuters Estimates, analysts expect the Company to report a net profit of RMB 914.08 million for the same period. |
China Southern Airlines Limited Announces Acquisition Of Aircraft
January 20, 2010 |
| China Southern Airlines Limited announced that it has entered into the Airbus Aircraft Acquisition Agreement with Airbus SNC to purchase the Airbus Aircraft from Airbus SNC. The catalogue price of an Airbus A320 aircraft is USD76.9 million. The aggregate consideration for the Acquisition will be partly payable by cash and partly by financing arrangements with banking institutions. The Airbus Aircraft will be delivered in stages to the Company during the period commencing from 2011 to 2013. |
China Southern Airlines Limited Announces Extension Of Long Stop Date Discloseable And Connected Transaction Disposal Of 50% Equity Interests In MTU Maintenance Zhuhai Co. Ltd.
December 29, 2009 |
| China Southern Airlines Limited announced that with reference to the announcement of China Southern Airlines Company Limited in relation to, among others, the proposed disposal of the 50% equity interests in MTU Maintenance Zhuhai Co., Ltd. and the relevant continuing connected transactions. Capitalised terms used herein have the same meaning as defined in the Circular. Completion of the Transfer Agreement is subject to the conditions stated in the sub-paragraph headed “Conditions precedent” under the section headed 'The Transfer Agreement' in the Circular having been fulfilled on or before the Long Stop Date or such other date as mutually agreed between the parties to the Agreement, failing which the Transfer Agreement will be terminated and all obligations of the parties under the Transfer Agreement shall cease, provided that the rights and liabilities of the parties thereto which have accrued prior to termination shall subsist and none of the parties to the Transfer Agreement shall have any claims against the other (save for any antecedent breach). |
China Southern Airlines Company Limited Offers E-freight Service-Industry Updates
October 14, 2009 |
| Industry Updates reported that China Southern Airlines has started its e-freight service, the first of its kind, in China. The service is available for the Guangzhou-Dalian flight initially and would be expanded to more flights by year-end. The service is expected to help China Southern reduce corresponding expenditure by about 1 million yuan (USD 146,477.22) annually while improving cargo-processing efficiency by 25 percent. |
China Southern Airlines Limited Announces Disposal Of 50% Equity Interests In MTU Maintenance Zhuhai Co. Ltd.
September 28, 2009 |
| China Southern Airlines Limited announced that on September 28, 2009, the Company and CSAHC entered into the Transfer Agreement pursuant to which the Company conditionally agreed to sell and CSAHC conditionally agreed to acquire the 50% equity interests in MTU Maintenance Zhuhai Co. Ltd., a joint venture established between MTU and the Company (JV Company), held by the Company at a Consideration of RMB1,607,850,000. On Completion, CSAHC will become the joint venture partner of the JV Company holding 50% of its equity interest and the Company will cease to have any equity interest in the JV Company. |
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