HKG:1055

China Southern Airlines to Up Stake in Subsidiary for 4.50 Billion Yuan

China Southern Airlines (SHA:600029, HKG:1055) will acquire an additional 31.47% stake in its subsidiary, Chongqing Airlines, for 4.50 billion yuan, according to a Shanghai bourse filing on Saturday.The airline company's Shanghai shares slipped 1% and Hong Kong shares fell by less than 2% at the close of Monday's trade.Chongqing Airlines' registered capital will increase to 5.6 billion yuan from 1.2 billion yuan.China Southern Airlines' stake in Chongqing Airlines will rise to 91.47% from 60% after the transaction.

China Southern Airlines' Passenger Capacity Climbs 3.7% in April

China Southern Airlines (SHA:600029, HKG:1055) passenger capacity jumped 3.7% year over year to 30.8 billion available seat kilometers in April, according to a Friday filing with the Hong Kong bourse.Passenger count slipped 0.6% to 13.5 million in the month.Cargo capacity increased 1.4% to 4.32 billion available ton-kilometers, the airline said in its filing.Cargo and mail carried edged up 1.6% to 160,060 tons.

Air China Returns to Profitability in Q1 Amid Energy Shocks; Hong Kong Shares Slide 3%

Air China (HKG:0753) returned to profitability in the first quarter, which could indicate resilience in the industry despite global energy shocks.Attributable net profit at China's flag carrier reached 1.71 billion yuan, compared with a loss of 2.04 billion yuan the previous year, according to a Thursday disclosure to the Hong Kong Exchange.Earnings per share stood at 0.10 yuan, versus a loss per share of 0.12 yuan.The rebound in earnings indicates a resilience in China's aviation sector, especially as it recovers from fuel shocks, Bloomberg reported separately on Thursday.The growth is also in line with expectations from Bank of America Securities.Two other major airlines, China Southern Airlines (HKG:1055, SHA:600029) and China Eastern Airlines (HKG:0670, SHA:600115) also recovered from losses in the first quarter compared with the year-ago period.Air China's turnaround could also mean alignment with other big Asian carriers such as Singapore Airlines (SGX:C6L) and Cathay Pacific (HKG:0293), the report said.However, Air China and its government-controlled peers could be "adversely positioned" due to a more price-sensitive travel cohort in China, as well as high fuel costs which they struggle to pass on to passengers, Reuters quoted HSBC (HKG:0005) as saying.The airline's revenue rose 11% year over year to 44.5 billion yuan from 40.0 billion yuan.Passenger capacity jumped 7.6% to 95.2 available seat kilometers during the quarter. The rise could be attributable to demand during the Lunar New Year, Reuters reported separately.Passenger throughput grew 10% to 42.1 million during the quarter, with domestic passenger count growing 10% to 35.8 million, international passenger count rising 12% to 4.9 million, and regional passenger count increasing 18% to 1.3 million.Cargo and mail throughput during the quarter grew 4.3% to 362,995.4 tonnes, while cargo capacity jumped 3.6% to 3.48 billion available freight tonne kilometers.Chinese international airline capacity could rise 13% year over year during the summer, equivalent to 91% of 2019 levels, Reuters said, citing Bank of America.Shares fell 3% in Hong Kong during Thursday afternoon trading.

China Southern Airlines Turns to Q1 Profit as Revenue Jumps 10%

China Southern Airlines (SHA:600029, HKG:1055) posted first-quarter attributable net profit of 1.48 billion yuan, compared with loss of 747 million yuan the previous year.Earnings per share stood at 0.07 yuan, versus a loss per share of 0.05 yuan last year, according to a Thursday filing with the Shanghai bourse.The carrier's operating revenue climbed 10% year over year to 47.8 billion yuan from 43.4 billion yuan.Shares of the company declined 1% in recent trade.

China Southern Airlines, Unit Place Order for 137 Airbus Planes

China Southern Airlines (SHA:600029, HKG:1055) and one of its units agreed to acquire 137 aircraft from Airbus at less than catalogue price, according to a Hong Kong bourse filing Wednesday.The airline's Hong Kong shares fell nearly 3% in late morning trade Thursday.The company agreed to purchase 102 A320NEO aircraft, while Xiamen Airlines, a 55%-owned subsidiary, placed an order for a further 35 A320NEO planes.The catalogue price for the planes range from $133 million to $170 million, equating to a total purchase price of $21.38 billion.However, the aggregate actual consideration "is lower than the catalogue price as provided [..] because of the price concessions granted by Airbus," China Southern Airlines said.Plane deliveries will begin from 2028 and last until 2032, the airline said.

Morgan Stanley Upgrades China Southern Airlines to Overweight from Equalweight; Price Target is 9.71 Yuan

China Southern Airlines Passenger Capacity Jumps 12% in March

China Southern Airlines (SHA:600029, HKG:1055) passenger capacity jumped 12% year over year to 32.9 billion available seat kilometers in March, according to a Tuesday filing with the Hong Kong bourse.Passenger count climbed 10% to 14.6 million in the month.Cargo capacity increased 3.8% to 1.62 billion available ton-kilometers, the airline said in its filing.Cargo and mail carried edged up 0.2% to 159,260 tons.