According to a senior executive the parent of Shanghai International Airport may fall short of its 2008 passenger volume target as the faltering global economy dents air traffic demand.
Shanghai Airport Authority Chairman Wu Nianzu said, ‘Many other sectors are feeling the pinch of the crisis and airports are no exception. We might miss our annual target of 56 million passengers this year.’
The company operates Shanghai’s Pudong International Airport and the smaller Hongqiao International Airport.
Without a major market rebound, which seems unlikely, China’s airline sector will end up in the red in 2008, airline executives and analysts told Reuters earlier this month.