China Southern Airlines, the mainland's largest carrier, said passenger numbers fell by 36.5 per cent last month compared with the same period last year amid the Sars outbreak. The Guangzhou-based carrier said the outbreak would adversely affect the group's financial position. Revenue passenger kilometres decreased by 34.1 per cent month on month, or by 40 per cent compared with the same period last year. MediaNation's mainland profit offset by HK losses MediaNation reported a loss attributable to shareholders of HK$46.2 million for the first quarter to March 31, as business in Hong Kong fell 26.8 per cent. Overall turnover recorded a slight decrease of 4.2 per cent to HK$76.2 million. While the group continued to show improvement in revenue for its mainland bus advertising business, profit was offset by the slow performance of the Hong Kong bus advertising business, the company said. CNOOC firm on bond issue despite failed oil bid CNOOC's plan to issue US$500 million to US$750 million in 10-year bonds will continue despite its failed attempt to procure a stake in a large oil and gas project in Kazakhstan, sources familiar with the issue said. CNOOC plans to launch the bond issue as soon as this week to take advantage of the prevailing low interest rates. Travel clampdown hits toll-road operators China's clampdown on provincial travel has hit toll-road operators Road King Infrastructure and Zhejiang Expressway, with the usually booming May Day holiday week showing sharply lower traffic. Road King, which operates 21 toll roads in provinces such as Guangdong, Anhui, Hunan and Jiangsu, said toll revenues shrank about 10 per cent this month compared with a year earlier.