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Carrier set to fly into loss in H1

Business | Airlines and airports
2009-8-5

SHANGHAI Airlines expects a loss for the first half of this year due to a plunge in cargo volume, the carrier said yesterday. "The financial crisis and the outbreak of H1N1 virus dampened the aviation market in...

Shanghai Airlines expects first-half loss

Business | Airlines and airports
2009-8-4

SHANGHAI Airlines expects a loss in the first half of this year due to plunging cargo volume. "The financial crisis and swine flu virus dampened the aviation market in the first half of this year, especially...

Shanghai Air to keep brand

Business | Airlines and airports
2009-7-1

SHANGHAI Airlines will become a subsidiary of China Eastern Airlines but remain an independent entity and keep its brand, Shanghai Airlines Chairman Zhou Chi said yesterday. The two Shanghai-based carriers are...

Merger plan: Shanghai Air to keep brand

Business | Airlines and airports
2009-6-30

SHANGHAI Airlines will become a subsidiary of China Eastern Airlines but remain an independent entity with its own brand, the carrier's chairman, Zhou Chi, said today. The two Shanghai-based carriers are still...

Cargo airline will receive cash injection

Business | Airlines and airports
2009-6-11

SHANGHAI Airlines plans to increase investment in its cargo subsidiary, which is under pressure as the financial crisis has hit the air cargo business. "The company will invest 110 million yuan (US$16 million)...

Government support keeps airline in black

Business | Airlines and airports
2009-4-27

SHANGHAI Airlines extended a weak performance in the first quarter of this year because of waning travel demand but government support helped it return to the black. Its net income fell 28.72 percent from a year...

China Merchants Bank offers 30b yuan in credit to airlines

Business | Airlines and airports
2009-3-14

DOMESTIC carriers will be given a 30-billion-yuan (US$4.39 billion) credit line from China Merchants Bank in the country's latest effort to help the ailing sector survive. The Civil Aviation Administration of...

Plan for share sale

Business | Airlines and airports
2009-2-26

SHANGHAI Airlines Co, the city's second-largest carrier, plans to sell shares to Jinjiang International Holdings Co, the third-biggest shareholder, for 1 billion yuan (US$146 million). The carrier priced the share...

Talks of injecting cash into airline

Business | Airlines and airports
2009-2-6

SHANGHAI Airlines's shareholders are discussing a cash injection to help the carrier to reduce its debt, a senior official at the company said. The smaller of two Shanghai's airlines said on Wednesday in a statement...

Shares to suspend

Business | Airlines and airports
2009-2-5

SHANGHAI Airlines Co, the city's second-largest carrier, will suspend trading from today pending plans to reduce debt. The company's board and shareholders are looking into ways to lower its debt ratio, the carrier...