China Southern Airlines has reported a net profit of CNY1.8 billion in 2014, down 6.4% over a net income of CNY1.89 billion in 2013. Operating revenue jumped 10.4% to CNY108.31 billion against a 9.3% increase in operating expenses to CNY95.15 billion. The carrier attributed the profit drop to fierce market competition, the high-speed rail and exchange losses due to yuan depreciation. Passenger boardings climbed 9.9% to 100.9 million with an average load factor of 79.4%, down 0.05 points ...

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