Shanghai Airlines goes back to black
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Shanghai Airlines flew into the black in the first half of this year, due to a combination of rising traffic and government subsidies, the Shanghai Daily has reported. The airline reported net income of CNY23.4 million (US$3.4 million) in the six month period, against a loss of CNY134.5 million (US$19.6 million) a year earlier. Its revenue grew 26 percent to CNY7.0 billion (US$1.0 million).
The Shanghai-based carrier flew 4.88 million passengers in the period, a year-on-year rise of 14.1%, with overall load factor rising to 71.4%, versus 70.3% a year earlier.
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