The Guangzhou-based carrier said its net profit for the six months ended June 30 was CNY2.07 billion, according to international accounting standards, up from a net profit of CNY25 million a year earlier.

Revenue rose 40% to CNY33.94 billion from CNY24.27 billion a year earlier. Like last year, the carrier didn’t recommend a first-half dividend.

The company completed the disposal of its equity interest in MTU Maintenance Zhuhai Co. in the first quarter and booked a CNY1.08 billion gain in the first half, the statement said.

The firm added that in the second half of 2010, there remains “sound momentum for rapid growth,” though it also noted risks from a faltering global economy as well as challenges from the operation of high speed railways.

China Southern Airlines carried 36.2 million passengers in January-June period, or 17.1% more than a year earlier. Its passenger load factor, or the proportion of seats filled on each flight, rose 4.1 percentage points to 77.9% during the same period. Cargo throughput was up 37.6% to 512,000 metric tons, from 372,000 tons a year earlier.

Source : Konaxis