Driven by strong domestic demand and yuan appreciation, China Southern Airlines increased its full-year earnings nearly tenfold in 2007, reporting a CNY1.871 billion ($267.1 million) profit compared to CNY188 million the previous year. Operating revenue climbed 18.2% to CNY55.87 billion. CZ said the "fast-growing Chinese economy" was the chief driver, although it also credited its "strategic transformation from a point-to-point operation to a hub-and-spoke operation" for the impressive ...

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