Shanghai Airlines shares crumble despite millions in support - share wrap
Shanghai Airlines shares were dumped on Friday after it won USD146 million in fresh funding from the Shanghai Municipal Government - the airline's backer. Investors are concerned the funding will not be enough to tackle the airline's heavy debt load and weak traffic outlook.
Meanwhile, Virgin Blue's launch of long-haul arm, V Australia, has sparked several parties, but not on the share market. Virgin Blue's shares fell a further 7.7% on Friday and opened lower in morning trade today.
Asia Pacific selected airlines daily share price movements (% change): 27-Feb-09