Shenzhen Airlines : ZH : CSZ :

Shenzhen reports huge full-year profit increase

Shenzhen Airlines earned a net profit of CNY500 million ($73.1 million) last year, nearly 20 times the CNY26 million surplus posted in 2008.
The carrier did not reveal its revenue and expense figures. It transported 15.1 million passengers in 2009, up 27.8%, and enjoyed a 22% jump in cargo traffic to 306 million FTKs. It introduced 14 new aircraft last year, increasing its fleet to 136, and opened 50 new routes.
Last month, Shenzhen was granted four additional weekly frequencies across the Taiwan Strait for use during the two-week New Year period. The Shenzhen-Taipei service is one of the most profitable cross-strait routes. Shenzhen and China Southern Airlines each operate the route, and Shenzhen's load factor reaches nearly 90%.
CZ and Air China remain interested in the 65% stake in Shenzen held by Li Zeyuan, who was arrested in November [Vous devez être inscrit et connecté pour voir ce lien]. It is China's fifth-largest airline after CA, CZ, China Eastern Airlines and Hainan Airlines, controlling a 6% share of the passenger market. CA holds 23%, CEA 24% and CZ 29%. If either CZ or CA takes control of Shenzhen, the Chinese industry could shift significantly.