China Southern spends on freighters

CHINA Southern Airlines’ new capital spending plan, amounting to CNY20.4 billion (US$3.1 billion) this year, includes six new 777 freighters.

The company’s net profit surged to CNY5.80 billion ($885 million) last year because of increased demand for air travel and one-off gains. In a reaction to rising fuel prices, the carrier is considering using fuel-hedging instruments.

Between June and August last year the airline received 777-200Fs as well as 777-400Fs to cater for demand.

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