New fees cut Shanghai Intl Airport income 10 pct

SHANGHAI, March 12 (Reuters) - Shanghai International Airport Co (600009.SS: Quote, Profile, Research, Stock Buzz), which operates the city's main international airport, said on Wednesday that a new fee structure would reduce its income by about 10 percent.

China's aviation regulator announced in January that the country's airports would be required to cut landing and take-off fees for foreign airlines, to bring them into line with fees paid by Chinese airlines and improve the competitiveness of the airport industry.

Shanghai International Airport said on Wednesday that its new fee structure had taken effect on March 1. It did not elaborate on the impact.

In an earlier, preliminary report on its 2007 earnings, the company said its total income last year rose 6 percent to 3.14 billion yuan ($442 million). ($1 = 7.10 yuan) (Reporting by Andrew Torchia; Editing by Edmund Klamann)