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Total profit and operating revenue separately sagged 72.79% and 9.2% to CNY 240 million and CNY 24.882 billion, because of a series of negative factors, such as the influenza A virus subtype H1N1 and a more severe competition in the domestic aviation market.
All of the Chinese airways were required to stop levying fuel surcharges on domestic airlines from January 15, 2009, so total revenue from Southern Airlines' passenger transportation slipped CNY 1.918 billion or 7.7% from the prior year.
In particular, the company gained government subsidies of CNY 1.52 billion from January to June, and total losses from its fuel hedging on the changes in fair value reduced CNY 105 million. By June 30, Southern Airlines had had total assets and net assets per share of CNY 90.154 billion and CNY 1.08, respectively.
Source: www.163.com (August 31, 2009)
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