Shanghai Airlines enters merger in poor form
Shanghai Airlines enters merger negotiations with former fierce cross-town rival, China Eastern Airlines, in a fragile state. Having notched two consecutive annual losses in 2008 and 2009, the carrier’s 1Q2009 net profit fell 28.7%, but without government subsidies it would have made a quarterly loss. [676 words]
Unlock the following content in this report:
- Competitive pressure in Shanghai remain strong
- New credit lines and government bailout
- Network continues to grow
Graphs and data:
- Shanghai Hongqiao Airport domestic capacity breakdown by carrier
(seats per week as % of total)
- Shanghai Airlines net profit and net profit margin (%): 2006 to 2008
- Shanghai Airlines route network: Mar-2009
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