China Southern Airlines Co. Ltd. provided earnings guidance for the first quarter ended March 31, 2012. The company expects that the net profits attributable to equity holders of the company for the first quarter of 2012 to be decreased by over 50% when compared to the first quarter of 2011. Due to the factors including the slowdown in the domestic economic growth and the substantial increase of jet fuel prices, the operating results of the company declined in the first quarter of 2012. In addition, the slowdown in the pace of appreciation of Renminbi against US Dollars has also brought the substantial decrease of exchange gain in the first quarter of 2012.