Two China Southern executives under investigation

Two China Southern executives under investigation

BEIJING - China Southern Airlines Co Ltd's chief financial officer and deputy general manager are under investigation for suspected criminal wrongdoing, the country's largest carrier said in a stock exchange filing on Monday.

CFO Xu Jiebo and deputy general manager Zhou Yuehai both resigned on Monday, the state-controlled carrier said, without giving further details.

Last month, China Southern sacked its chief operating officer, Tian Xiaodong, and executive vice-president Chen Gang for suspected "job-related crimes".

Senior officials at China's corruption watchdog - the Central Commission for Discipline Inspection (CCDI) - said in November they would shift their attention to China's massive state-run companies as part of President Xi Jinping's anti-graft campaign.

In recent months the agency has felled a number of high-profile executives at state-owned enterprises in sectors ranging from energy to telecoms. The China Southern executives are some of the first cases to emerge in the airline industry.

Despite the investigation, shares of China Southern have risen more than 50 per cent in recent months as oil prices have plunged, sharply cutting fuel costs.

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