We expect a decline in the company's revenues in FY 2009 reflecting sluggish air travel demand amid the challenging economic environment. However, we anticipate an increase in the company's domestic passenger traffic in line with the company’s strategy to focus on its hubs, Beijing and Guangzhou, and reflecting expectations of an earlier recovery in China. The Chinese government continues to target an 8% GDP growth…

China Southern Airlines Company Ltd. (China Southern) reported a significant decline in its 1Q 09 earnings. Given the company’s poor performance and anticipated sluggish demand for air travel in light of current economic conditions, augmented by the possible negative impacts of the swine flu outbreak, we maintain our SELL rating for the common stock and will reassess the target price and rating in our next update report....

China Southern Airlines Company Ltd. (China Southern) announced today that it expects to report a higher than previously anticipated net loss in FY 2008 given its decision to impair older aircraft. As a result, we maintain our SELL rating although current levels do not support a SELL....