Aeroflot SSJ100s to resume service this month
13th February 2013
China Southern Airlines reported thrice the amount of loss, widening by 170% to CNY32.7 billion, and revenue dropped by 14.3% to CNY87.1 billion as per the financial report released on the Hong Kong stock exchange. On the other hand, the logistics arm of the airline, Southern Air Logistics reported a net profit of $667.9 million and revenue of CYN 21.5bn.
Going ahead, as a part of its business development China Southern plans to make its profitable logistics unit a standalone company and take it public on the Shanghai Stock Exchange. China Southern Air Logistics will still be controlled by China Southern after the spin-off, the airline said in a statement.
Through the spin-off, the airline could further focus its business on passenger transportation, increase its asset investment in the passenger transportation business, and enhance its air passenger service and security service capabilities, China Southern said.
Founded in 2018, Southern Air Logistics was founded in 2018 and operates a fleet of 15 Boeing 777F freight planes and the cargo business of 879 passenger aircraft as of December 31, 2022.