Shanghai Airlines expects 50% fall in profit for first nine months

Airline Industry Information, Oct 18, 2005

AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD

Shanghai Airlines Co Ltd has said that it expects a major decrease in profit for the first three quarters of the year.

According to the airline the expected decrease has been caused by the high fuel prices. Net income for the first nine months is expected to fall by more than 50% year-over-year. The airline said in a statement to the Shanghai Stock Exchange that it also expects earnings per share to fall by more than 50% for the first nine months of the year.

The company will release its Q3 results on 29 October, shanghaidaily.com reported.

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