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H 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   www.aero.cn 航空翻译 www.aviation.cn 本文链接地址:China Southern Airlines Company Limited Annual Report 2009

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