China South Air (NYSE:ZNH)
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5 Years : From May 2012 to May 2017
China Southern Airlines Co. (ZNH) expects to carry 12% more passengers in 2011 and will take delivery of the first of its five Airbus 380s in September, Chairman Si Xian Min said Monday, adding the carrier seeks to add more wide-body aircraft to boost its international network.
Si said on the sidelines of the International Air transport Association's annual meeting in Singapore the carrier will receive its first Airbus superjumbo aircraft in September and another one in November, as part of efforts to boost its international network amid intensifying competition on domestic routes following the development of the high-speed rail network in China.
He added the carrier will also take delivery of the long-delayed Boeing 787 in the fourth quarter.
"The incoming A380 will be used on international routes, as we continue to add more overseas destinations," said Si, adding that the Guangzhou-based carrier, which operates the most domestic routes compared with rivals Air China Ltd. and China Eastern Airlines Corp., plans to add new services to Perth and Vancouver from Guangzhou in July.
He added the carrier is considering buying more freighters, such as the Boeing Co. (BA) 777 freighter, to strengthen its cargo business, and expects contribution from its cargo division to rise to over 10% of its cargo revenue this year from the 7% in 2010.
-By Joanne Chiu, Dow Jones Newswires; 852-2802-7002; email@example.com