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Total revenue from the company's transportation business, especially cargo transportation, was on the reduction. And most of its loss should be ascribed to a holding company, Shanghai Airlines Cargo Intl. Co., Ltd., according to the latest announcement. From January to June 2008, Shanghai Airlines reaped net profit of CNY 23.41 million, with a 117.41% rocket year on year, and basic earnings per share largely rose 117.74% to CNY 0.022. Shanghai Airlines and China Eastern Airlines Co., Ltd. (SEHK: 0670; SHSE: 600115), which separately lost CNY 1.249 billion and CNY 14.046 billion last year, are negotiating about merger now. Actually, both parties have been entangled in this plan for seven years, and the Shanghai government promises to give a strong support. Source: www.beijingtimes.com.cn (August 04, 2009) For full details for SAHIF click here.
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