Shandong Airlines suffers 88% profits tumble

China’s Shandong Airlines has suffered a huge slide of 88% in its first quarter 2019 profits, as the group posted CNY38.4 million (approximately $5.7 million). The group said in a Shenzhen Stock Exchange disclosure that its attributable net profit plunged 86.3% to CNY34 million. Costs for Shandong Airlines went up by 8.4% to CNY4.6 billion, while revenue grew by a smaller 3% to CNY4.63 billion.