Shanghai Airlines has announced that it lost RMB435.1m in 2007, a loss the company blamed on higher fuel prices and increased competition.

A company statement said that its potentially lucrative Shanghai – Hong Kong route had proven unprofitable in 2007. As it struggles to compete against China's three major airlines, speculation is increasing that Shanghai Airlines may look for a strategic investor, with state-owned Air China - which recently had a stake bid rejected by China Eastern Airlines - clearly in the frame.

Last update : Monday, 28 April 2008

Keywords : Shanghai Airlines, Air China, China Eastern, Shanghai, Hong Kong, Aviation

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