Shanghai tips doubled loss

BTN News
Wednesday, 21 January 2009
Shanghai Airlines of China says its 2008 net loss is likely to more than double from the 2007 figure, due to poor fuel hedging decisions and weak demand in the local aviation market.

It saw losses of RMB170 million on fuel hedging contracts at the end of December and the same month, also incurred a cash loss of RMB8.5 million from the settlement of aviation fuel hedging contracts.


The company posted a net loss of RMB 435.12 million for 2007.

Shanghai tips doubled loss

BTN News
Wednesday, 21 January 2009
Shanghai Airlines of China says its 2008 net loss is likely to more than double from the 2007 figure, due to poor fuel hedging decisions and weak demand in the local aviation market.

It saw losses of RMB170 million on fuel hedging contracts at the end of December and the same month, also incurred a cash loss of RMB8.5 million from the settlement of aviation fuel hedging contracts.


The company posted a net loss of RMB 435.12 million for 2007.