Shanghai-based Spring Airlines and Juneyao Airlines stood out among China's struggling privately held airlines and reported a profitable 2008. Spring posted a CNY21 million ($3.1 million) net profit last year, down 70% from the more than CNY70 million earned in 2007. It credited the result partly to a CNY20 million civil aviation infrastructure payment imposed in the second half of last year. Its operating revenue climbed 32% year-over-year to CNY1.62 billion as it transported 2.9 million ...

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