Shanghai Airlines earned a CNY23.4 million ($3.4 million) first-half profit based on domestic accounting standards, reversed from a CNY134.5 million loss in the year-ago semester, thanks to a CNY44.5 million government subsidy. It did not say what the subsidy was for, Bloomberg News reported. Instead it credited "the enhancement of marketing efforts and rationalization of the route network, as well as improving aircraft daily utilization" as key to the result. Operating revenue rose 26% ...

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