China Southern profits plunge
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China Southern Airlines posted a 95.3% decline in net profit in the first half of the year, despite the increased passenger traffic, Xinhua reported. Although the passenger numbers rose 10.7% year-on-year in the first six months, the company failed to repeat the CNY2.64 billion (US$387 million) foreign-exchange gains achieved in the corresponding period last year. Guangzhou-based China Southern carried approximately 31 million passengers in the first half, up 10.7% from a year earlier.
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