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Top 10 Emerging Markets Stocks in 2010

4. China Southern Airlines (ZNH) is engaged in providing commercial airline services in China, Hong Kong, Macau, Taiwan, Southeast Asia and other parts of the world.

On a year-to-date basis, the airline, with the largest fleet size and highest passenger traffic volumes in China, has accumulated 87.1%, touching 52-week highs in October. In comparison, China Southern's U.S. counterparts Delta Airlines (DAL - Get Report) and Southwest Airlines (LUV - Get Report) gained 9.7% and 14.4%, respectively, on a year-to-date basis.

During the first 11 months of 2010, passenger throughput increased 16% year-over-year to 70.51 million, passenger load factor was up by 3.8%, cargo and mail throughput escalated 31.6%. For the third quarter, China Southern's net profit jumped almost 10-fold, benefiting from the recovery in the global travel industry and a strong yuan. During the year, the carrier ordered 20 C919 aircrafts, which will be manufactured in China, six A330s, 30 A320s from Airbus and 10 737s from Boeing (BA). Of the total aircraft ordered, six A330s will be delivered between 2013 and 2014, while the 30 A320s are scheduled for delivery between 2012 and 2015. Besides, China Southern will be the first Chinese airline to fly Boeing's 787 Dreamliner, which will further improve its competitiveness. Boeing said it would deliver the aircraft in the middle of first-quarter 2011. Earlier in March, the company had planned to raise almost $1.6 billion from a discounted private share issue for which it received regulatory approval in August.

Looking ahead, the airline is seeking to expand its international routes from the current 15% to 30% in the upcoming three years. Moreover, China Southern has announced it will be flying to New Zealand with a thrice-a-week frequency starting April 2011.

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