China Southern Is One of the Big Three in China, and Has No Moat Despite Significant Market Share
For the past decade, China Southern Airlines has been China’s largest airline in terms of revenue and passenger volume. The company now boasts the most comprehensive route networks among the Big Three operators (China Southern, Air China, and China Eastern), and enjoys first-mover advantage in international expansion by becoming the first Chinese member of SkyTeam, a global airline alliance.Despite its market share leadership position, China Southern does not command any pricing premium over its...China Southern Airlines and its subsidiaries are engaged in the provision of commercial airline services throughout the People's Republic of China, Hong Kong, Macau and Taiwan regions, Southeast Asia and other parts of the world. Co. also provides air cargo and mail services. Co.'s airline operations are fully integrated with its airline-related businesses, including aircraft and engine maintenance, flight simulation and air catering operations. As of Dec 31 2012, Co. operated a fleet of 491 aircraft: 243 boeing, 225 airbus and 23 others. Co. had carried 86,485,000 passengers, and 1,232,000 tons cargo and mail.
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