Southern Airlines September Traffic Weaker Than Usual
China Southern Airlines Ltd (NYSE: ZNH, HKG: 1055, SHA: 600029) said its passenger traffic was up 9% year on year in September, slower than 14% in August and 10% in the year through September. Passenger traffic from domestic and international routes was up 7% and 18% year on year respectively. On a monthly basis, passenger traffic fell 10% (domestic down 11% and international down 5%) in September, which was weaker than normal seasonality. The company's cargo traffic was up 1% year on year and up 7% month on month in September, which was also weaker than normal seasonality.
Alibaba to Pour $16 Billion into Logistics
Alibaba Group Holding Ltd, China's biggest e-commerce firm, said it plans to invest a total of $16 billion in logistics operations by 2020 to revolutionize China's retail industry. The operator of Taobao.com and Tmall.com – China's top C2C and B2C sites – is preparing for its initial public offering that is expected to raise $15 billion. Chief executive Lu Zhaoxi previously said the company hopes to triple its annual turnover to 3 trillion yuan by 2016, becoming the biggest e-tailer in the world.
You are currently reading
total words in this article.
To continue reading this article, you must be a subscriber. Log in now..