Company Overview of China Southern Airlines Co. Ltd.
China Southern Airlines Company Limited provides air transportation services in the People’s Republic of China and internationally. The company operates through Airline Transportation Operations and Other segments. It offers passenger, cargo, mail delivery, and other transportation services. The company also provides ground, cargo handling, air catering, logistic, and other services, as well as property management services; and is involved in hotel and tour operations. As of December 31, 2014, it had a fleet of 612 passenger and cargo aircraft. China Southern Airlines Company Limited was founded in 1995 and is headquartered in Guangzhou, the People’s Republic of China.
278 Ji Chang Road
Founded in 1995
Key Executives for China Southern Airlines Co. Ltd.
Vice Chairman, President and Chairman of Strategic Decision-Making Committee
Chief Operating Officer, Executive Vice President and Executive Director
Total Annual Compensation: $636.0K
Compensation as of Fiscal Year 2014.
China Southern Airlines Co. Ltd. Key Developments
China Southern Airlines Company Limited Provides Earnings Guidance for the Year Ended December 31, 2015
Jan 26 16
China Southern Airlines Company Limited provided earnings guidance for the year ended December 31, 2015. For the year, the company preliminarily estimated the annual results of 2015 in accordance with the "China Accounting Standards for Business Enterprises" and the net profits attributable to equity holders of the company for year 2015 is expected to increase 110% to 130% as compared with the corresponding period last year. The company reported net profit attributable to equity holders of the company of RMB 1.773 billion or RMB 0.18 per share for the same period a year ago. The reasons for estimated profit increase in the results: During 2015, the demand of Chinese civil aviation transportation market showed a strong trend, the Company optimized resource allocation, enhanced the deployed capacity and seized the market opportunities, so that the operating revenue of the Company recorded an increase as compared with the corresponding period in the previous year. The preliminary results of strategic transformation of the Company were achieved with Guangzhou hub has been gradually improved, and the international route has become a new profit growth point which was driven by the substantial growth of outbound tourism. The comprehensive budget management of the Company highlighted its role with the continuous improvement in the Company's cost control capability, so that the company’s cost decreased as compared with the corresponding period in the previous year. Benefit from the fluctuation of the international crude oil price at a lower level, the company’s cost of jet fuel price has been substantially decreased as compared with the corresponding period in the previous year. The Company took the initiative to deal with the sharp depreciation of RMB and substantially reduced debt ratio denominated in USD, therefore reduced the exchange losses from the depreciation of RMB.
China Southern Airlines Co. Ltd. Announces Chairman of the Board Changes
Jan 15 16
On 15 January 2016, the Board received a letter of resignation from Si Xian Min as the Chairman of the Board of China Southern Airlines Co. Ltd. Si Xian Min tendered his resignation from the posts of Chairman of the Board, non- executive director of the Company, the member of the Strategic Decision-making Committee under the Board and the chairman of the Nomination Committee under the Board. Si Xian Min confirms that he has no disagreement in any respect with the Board and the company, and there is no matter relating to his resignation that should be brought to the attention of the shareholders of the company. On 5 November 2015, according to the provisions of the Articles of Association of the company, the Board resolved to authorise the Vice Chairman of the Board to assume the role and duties of the Chairman, to perform his duties in accordance with the provisions of the Company Law, the Articles of Association of the Company and other relevant management rules of the company.
Virgin America Launches Codeshare Agreement with China Southern Airlines
Dec 29 15
Virgin America and China Southern Airlines announced a codeshare agreement to offer seamless booking and travel between China, Southeast Asia and multiple Virgin America destinations across the United States. Under the new agreement, China Southern will place its two-digit airline code (CZ) and flight numbers on a range of Virgin America routes operating from Los Angeles and San Francisco including West Coast flights to and from Boston, Chicago, Dallas Love Field, Fort Lauderdale, Las Vegas, Newark, New York (JFK), Seattle, San Diego and Washington DC. This partnership will bring expanded choice and convenience for travelers flying between China Southern's numerous Chinese and Southeast Asia destinations and the United States. This agreement is unique in that China Southern is the only airline offering non-stop service between Guangzhou and Wuhan and the United States. This codeshare arrangement allows a one-stop booking process, a single ticket and one-stop check-in, including baggage handling, for the entire journey.
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