Air Transport World

Shanghai airlines.(ASIA/PACIFIC Report)

Shanghai Airlines was unable to reap the benefits related to rising demand and yuan appreciation as it reported a CNY497.6 million ($70.9 million) net loss for 2007 that widened considerably from a CNY6.5 million deficit the year before, although it enjoyed a slight reversal of fortune in the first quarter of 2008.

Operating revenue climbed 22.9% to CNY12.31 billion against a 27.6% increase in expenses to CNY12.84 billion. It attributed the net result to rising fuel prices and startup costs on new routes. …

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