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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  China Southern Airlines Company Limited    600029   CNE000001FG0

CHINA SOUTHERN AIRLINES COMPANY LIMITED

(600029)
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China rolls out cash support to domestic, foreign carriers amid coronavirus outbreak

03/04/2020 | 07:33am EST

China on Wednesday rolled out cash support to both domestic and foreign carriers to encourage them to restore services and stop suspending flights during the coronavirus outbreak.

The move, which had been flagged by the country's aviation regulator in recent weeks, will alleviate cashflow pressure on China's aviation industry, one of the worst-affected by the epidemic as nations curbed travel fearing contagion and airlines cancelled flights as demand shrivelled.

Data from Cirium showed the number of flights to, from and within China cancelled or removed from schedules totalled 347,414 from Jan. 24 through Feb. 27.

But some capacity has been added back since, according to flight schedules, with mainland carriers restoring some services as business activity recovers and there are fewer reported coronavirus cases daily in China.

For every available seat kilometre, Beijing will award 0.0176 yuan ($0.0025) for routes that are shared by multiple carriers and 0.0528 yuan for routes that are only operated by one carrier, the Civil Aviation Administration of China said in a statement on its website.

For example, British Airways, which has cancelled all its flights to mainland China, would receive about a 50,000 yuan subsidy for each flight from London to Beijing if it sold all the seats, Reuters calculations showed.

The subsidies, which will be effective for flights between Jan. 23 and June 30, would only apply to routes with mainland destinations or departure points, the CAAC said.

On Wednesday, Finnair said it would cancel all its flights to mainland China until April 30.

(Reporting by Stella Qiu in Beijing and Brenda Goh in Shanghai; Editing by Alex Richardson, Kirsten Donovan)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AIR CHINA LIMITED 3.76% 6.34 End-of-day quote.-19.85%
AIR CHINA LIMITED 0.25% 7.9 End-of-day quote.-18.47%
AMP LIMITED 0.88% 1.725 End-of-day quote.-9.92%
AT HOME GROUP INC. 6.58% 17.99 Delayed Quote.227.09%
CHINA EASTERN AIRLINES CORPORATION LIMITED 1.01% 4.99 End-of-day quote.-14.11%
CHINA SOUTHERN AIRLINES COMPANY LIMITED 2.26% 6.33 End-of-day quote.-11.84%
EURO / US DOLLAR (EUR/USD) -0.09% 1.18844 Delayed Quote.6.09%
FINNAIR OYJ 2.76% 0.632 Delayed Quote.-43.20%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. -0.47% 170.1674 Delayed Quote.-60.13%
JUNEYAO AIRLINES CO., LTD 1.11% 11.85 End-of-day quote.-21.00%
JUST GROUP PLC -1.75% 59.2 Delayed Quote.-23.86%
THE EASTERN COMPANY 1.21% 22.55 Delayed Quote.-26.14%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.06% 6.5702 Delayed Quote.-5.45%
WILL GROUP, INC. 6.52% 980 End-of-day quote.-21.73%
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Financials
Sales 2020 91 072 M 13 847 M 13 847 M
Net income 2020 -10 091 M -1 534 M -1 534 M
Net Debt 2020 126 B 19 160 M 19 160 M
P/E ratio 2020 -6,26x
Yield 2020 -
Capitalization 87 825 M 13 324 M 13 354 M
EV / Sales 2020 2,35x
EV / Sales 2021 1,53x
Nbr of Employees 103 876
Free-Float 46,3%
Chart CHINA SOUTHERN AIRLINES COMPANY LIMITED
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China Southern Airlines Company Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Average target price 4,64 CNY
Last Close Price 4,18 CNY
Spread / Highest target 28,1%
Spread / Average Target 11,1%
Spread / Lowest Target -6,88%
EPS Revisions
Managers
NameTitle
Xu Lun Ma Vice Chairman, President & Chief Executive Officer
Jia Shi Li Chairman-Supervisory Board
Chang Shun Wang Chairman
Jin Song Tan Independent Non-Executive Director
Shu Ge Jiao Independent Non-Executive Director
Sector and Competitors