Shanghai Airlines expects to post a loss in 2007 after reporting an CNY8.2 million ($1.1 million) profit in 2006, according to a company statement cited by Reuters. The airline said high fuel prices, slow development of new international routes and the establishment of a cargo subsidiary were the principal causes. It posted a narrowed CNY134.5 million loss in the first six months of 2007 (ATWOnline, Sept. 3, 2007).
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