China Southern posts profit amid restructuring, eyes greener skies

China Southern Airlines (HKEX: 1055) announced its 2024 annual results, highlighting a return to profitability alongside a strategic shift towards sustainable operations and improved corporate governance. The airline reported a net profit of RMB 25 million for the year, a notable turnaround from the RMB 2.957 billion loss in 2023. This positive shift occurred even as the company acknowledged uncovered losses exceeding one-third of its total share capital, a situation it is addressing through comprehensive operational enhancements and cost management strategies.