April 26, 2012 11:20 PM
- Text
China Southern reports profit drop on fuel costs
BEIJING — China Southern Airlines Ltd., China's biggest state-owned carrier by number of passengers, says its quarterly profit fell 74 percent due to high fuel costs.
China Southern said Friday its profit for the three months ended March 31 was 319 million yuan ($50.6 million).
It blamed the decline on higher fuel costs and a slowdown in the rise of the exchange rate of China's currency against the dollar.
© 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. China Southern said Friday its profit for the three months ended March 31 was 319 million yuan ($50.6 million).
It blamed the decline on higher fuel costs and a slowdown in the rise of the exchange rate of China's currency against the dollar.
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