国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Economy

Markets

Industries

Insights

Reports

Events

China Southern invests in northeastern hub

By Qian Yanfeng (China Daily)
Updated: 2008-10-30 09:56

China Southern Airlines, Asia's largest carrier by passenger numbers, said yesterday it would invest 10 billion yuan ($1.46 billion) in Liaoning Airport Group in a bid to build an aviation hub in the northeast Asia-Pacific region.

With the investment, China Southern would be entitled to a 40 percent stake in the airport group, with the remaining 60 percent would be owned by Liaoning's provincial government.

The carrier said it would build a new terminal at Shenyang Taoxian airport, the largest airline hub in northeast China within Liaoning Airport Group. It also plans to base 100 planes at the airport by 2010, and open five to eight new international routes in the next five years.

China Southern's move is widely regarded by industry insiders as a step to further consolidate the airlines' leading position in northeast China as its northeastern branch, China Northern Airlines, is based at Taoxian.

"Northeast China is of strategic importance to us," said Shao Fuqiang, a spokesman for China Southern's Party committee.

"We already have Guangzhou and Wuhan as the southern and central hubs. Now Shenyang will become our new hub for Northeast Asia and enhance our competitiveness internationally."

Xia Fulu, an analyst from Shanghai-based Industrial Securities, said the investment would help China Southern better manage risk control.

However, the current global economic recession means that short-term returns on the investment may be hampered by the gloomy market sentiment, he said.

China's flagship carrier Air China announced a net loss of 1.9 billion yuan in the third quarter, in contrast to a 2.2 billion yuan profit in the same period last year.

China Eastern Airlines, the nation's third largest carrier, posted a 2.3 billion yuan net loss in the quarter.

China Eastern Airlines said yesterday that given the "relatively big losses" in the first three quarters and soft market demand, it expects to book a net loss for the whole of 2008.