Shanghai Airlines yesterday said it expects to report a first-half net loss, which will follow its CNY1.36 billion ($198.8 million) deficit in 2008. It cited the global decline in air travel, especially "the sharp drop in cargo traffic" at its Shanghai Airlines Cargo International subsidiary, in a filing with the Shanghai Stock Exchange. SAL has begun the merger process with China Eastern Airlines (ATWOnline, July 14), which revealed last month that it was profitable through the 2009 first ...

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