China Southern Airlines reported a 2009 net profit of CNY358 million ($52.5 million), reversed from a net loss of CNY4.83 billion in 2008. The Guangzhou-based carrier said its improved performance was driven by a "domestic market rebound stimulated by economic recovery in the second half of 2009." Industry analysts pointed out that a CNY3 billion "subsidy" from Beijing last year also helped CZ return to the black. Total operating revenue decreased 0.7% to CNY56.04 billion while operating ...

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