Shanghai Airlines reported a 2008 net loss of CNY1.25 billion ($182.8 million), nearly tripling a net deficit of CNY435.12 million in 2007, on an 8.6% lift in revenue to CNY13.37 billion. The carrier blamed the loss on "the sharp drop of domestic demand caused by the Sichuan earthquake last May and the economic downturn in the second half of last year." It also pointed to "the higher fuel price." Shanghai Airlines Cargo posted a net loss of CNY263 million for 2008, which had a "negative ...

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