Airline News
Anti-corruption drive snares China Southern CFO, COO
January 13th 2015
China’s Central Commission for Discipline Inspection (CCDI), the Chinese Communist Party’s anti-graft watchdog, said it will continue its investigation into business practices at the country’s state-owned airlines following last week’s resignation of six top executives at Guangzhou-based China Southern Airlines – the world’s largest carrier by fleet size and passengers carried.Read More »
In announcements to the Hong Kong and Shanghai stock exchanges, China Southern said the six senior executives, including chief financial officer (CFO), Xu Jiebo, chief operating officer (COO) of flight operations, Tian Xiaodong, two executive vice presidents and two general managers, have been placed under investigation by the CCDI.
An audit in early December revealed irregularities at the carrier and the anti-graft authority was said to have extended its inspection after it found rampant corruption at the airline. China Southern said the loss of the top executives “will not affect the business or operation of the company”.
