China Southern Airlines has reported a net profit of CNY1.89 billion ($307 million) for 2013, down 28% compared to a net income of CNY2.63 billion in 2012. Operating revenue decreased 3.3% to CNY98.1 billion while expenses rose 1.3% to CNY87.06 billion. The Guangzhou-based carrier attributed the results to the slowdown of domestic economic growth, high-speed rail competition, overcapacity, intensified competition and high fuel prices. Passenger boardings jumped 6.1% to 91.79 ...

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