Shanghai Airlines expects to post a net loss for the first half of 2009, citing the global financial crisis and H1N1 fears.
Freight subsidiary Shanghai Airlines Cargo International (SACI) was an area of particular weakness, says the airline in a statement to the Shanghai Stock Exchange.
The company did not reveal the extent of its expected loss, and will release its first half results later this month.
According to Flight's ACAS database, Shanghai Airlines is a subsidiary of China Eastern Airlines, and operates extensive domestic routes and internationally from Shanghai to Cambodia, Japan, Russia, South Korea, Thailand and Vietnam.
Extensive cargo routes to Europe are flown in conjunction with SACI.
Source: Air Transport Intelligence news
