Shanghai Airlines - 2008 losses expected to double, on weak demand and fuel hedging losses
Shanghai Airlines stated it expects its net loss for 2008 to double from the previous year's CNY435 million (USD64 million) to CNY860 million (USD126 million), due to weak travel demand and losses from fuel hedging contracts. The carrier is due to issue its 2008 results on 30-Apr-2009. [944 words]
Unlock the following content in this report:
- Expects to face "heavy operating pressures and financial difficulties" in 1Q09; but may return to profit in FY2009
- Shanghai Government to bail out the airline
- Unaware of China Eastern merger plans
- Debt-to-equity ratio of 91.4% at Sep-08
- Slows fleet expansion
- Network continues to grow
Graphs and data:
- Shanghai Airlines route network: Mar-2009
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