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Share Stock Code: 1055 A Share Stock Code: 600029 ADR Code: ZNH China Southern Airlines Company Limited Annual Report 2009

1
Contents
Company Profile 2 Corporate Information 3 Financial Highlights 4 Chairman’s Statement 6 Management Discussion and Analysis 8 Report of the Directors 23 Report of the Supervisory Committee 35 Corporate Governance Report 38
Financial Statements Prepared under International Financial Reporting Standards
• Independent Auditor’s Report 44
• Consolidated Income Statement 46
• Consolidated Statement of Comprehensive Income 48
• Consolidated Balance Sheet 49
• Company Balance Sheet 51
• Consolidated Statement of Changes in Equity 53
• Consolidated Cash Flow Statement 54
• Notes to the Financial Statements 55
Supplementary Information 139 Five Year Summary
141 The Board of Directors, Supervisory Committee and
Senior Management
143 Glossary 148
CHINA SOUTHERN AIRLINES COMPANY LIMITED • ANNUAL REPOR
T 2009
CHINA SOUTHERN AIRLINES COMPANY LIMITED • ANNUAL REPORT 2009
2 Company Profile
Based in Guangzhou, the Group has 13 branches,
including Xinjiang, Beifang, Beijing, Shenzhen, Hainan, Heilongjiang, Jilin, Dalian, Henan, Hubei, Hunan, Guangxi,
Zhuhai Helicopter, and 5 major subsidiaries, including
Xiamen Airlines, Shantou Airlines, Zhuhai Airlines,
Guizhou Airlines and Chongqing Airlines. The Group
has set up base in Shanghai and 19 domestic offices in
cities including Chengdu, Hangzhou and Nanjing. It also
maintains 52 overseas offices including Tokyo, Paris,
Los Angeles, Sydney and Lagos. Apart from the above,
the Company has equity interests in Sichuan Airlines
Corporation Limited.
As of 31 December 2009, the Group had a fleet of 378
aircraft, consisting primarily of Boeing 737 series, 747,
757, 777, Airbus 320 series, 300, 330, McDonnell Douglas 90 etc. The average age of the Group’s registered aircraft
was 6.32 years as at the year end of 2009.
China Southern Airlines Company
Limited (the “Company”), together with its subsidiaries (collectively, the
“Group”), is one of the largest airlines in the People’s Republic of China (“China”
or “the PRC”). In 2009, the Group ranked
first among all Chinese airlines in terms
of its fleet size, flight routes network
and volume of passenger traffic. The
Group has a network of flight routes
with Guangzhou as the core hub and
Beijing as a major hub, covering China and the rest of Asia and connecting
Europe, America, Australia and Africa. The Company joined the SKYTEAM
in November 2007. Up to the date of
this report, the Group has established a network reaching 905 destinations
globally, connecting 169 countries
　
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