China Southern Airlines Limited (ADR) (NYSE:ZNH)
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The Company provides commercial airline services throughout China, the Hong Kong and Macau regions, Southeast Asia and other parts of the world. It also provides air cargo and mail services.
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ZNH has an illiquid balance sheet. It also does not distribute any dividend. It operates in one of the most loss making industry: major airlines - http://biz.yahoo.com/p/770qpmu.html.