Shanghai Airlines' 2006 annual profit plummeted 82.2% to CNY8.2 million ($1.1 million) from earnings of CNY46 million in 2005 as revenues rose 24.5% to CNY9.93 billion and costs climbed 27% to CNY8.49 billion. In the 2007 first quarter, SAL remained stuck in its downturn with a CNY95.8 million loss. Operating revenue increased 27.41% to CNY2.55 billion against a 29.5% lift in costs to CNY2.3 billion. The carrier cited "high oil prices" and "intensified market competition" as the reasons for ...

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