Shanghai Airlines denies bail-out
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Shanghai Airlines has denied a media report saying it would receive financial aid from local authorities, Bloomberg has reported.
The 21st Century Business Herald reportedly said on 5 December that Shanghai authorities were considering injecting funds into the company. The report follows news that the Chinese government had injected CNY3 billion (US$436 million) into China Southern Airlines.
Shanghai Airlines reported a loss of CNY437.4 million in the third quarter, Bloomberg said.
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