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Shanghai Airlines flies into more trouble


Shanghai Airlines has unveiled a devastating CNY1.25 billion (USD183 million) net loss in the 12 months ended 31-Dec-08, under Chinese accounting standards – almost three times the loss reported in 2007 – and significantly worse than the CNY860 million the carrier predicted as recently as Feb-2009. [1111 words]

Unlock the following content in this report:


  • Passenger load factors fall, cargo slumps late in 2008
  • Profits peaked in 2004
  • New credit lines and government bailout
  • Looking to cancel or defer B787 deliveries
  • Outlook: Pick-up in demand needed now

Graphs and data:

  • Shanghai Hongqiao Airport domestic capacity breakdown by carrier (seats per week as % of total)
  • Shanghai Airlines financial highlights for the 12 months ended 31-Dec-08
  • Shanghai Airlines passenger numbers growth and cargo volume growth: 2006 to 2008
  • Shanghai Airlines passenger numbers and passenger load factor: 2005 to 2008
  • Shanghai Airlines annual net profits (losses), CNY millions: 2001 to 2008
  • Shanghai Airlines net profit and net profit margin (%): 2006 to 2008
  • Shanghai Airlines share price: 05-Jan-09 to 30-Mar-09
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