service Tickets were put on sale at 09:00 on June 24, 2011, and sold out within an hour. To compete with the new train service, airlines slashed the cost of flights between Beijing and Shanghai by up to 65%. Economy air fares between Beijing and Shanghai fell by 52%. Sleeper bullet trains on the upgraded railway were cancelled at the beginning, but later resumed. The new line will increase the freight capacity of the old line by 50 million tons per year between Beijing and Shanghai. In its second week in service, the system experienced three malfunctions in four days. On July 10, 2011, trains were delayed after heavy winds and a thunderstorm caused power supply problems in Shandong. On July 12, 2011, trains were delayed again when another power failure occurred in Suzhou. On July 13, 2011, a transformer malfunction in Changzhou forced a train to halve its top speed, forcing passengers to take a backup train. Within two weeks after opening, airline prices had rebounded due to frequent malfunctions on the line. Airline ticket sales were only down 5% in July 2011 compared to June 2011, after the opening of the line. On August 12, 2011, after several delays caused by equipment problems, 54 CRH380BL trains running on this line were recalled by their manufacturer. They returned to regular service on November 16, 2011. A spokesman for the Ministry of Railways apologized for the glitches and delays, stating that in the two weeks since service had begun only 85.6% of trains had arrived on time. Finances In 2006, it was estimated that the line would cost between CN¥130 billion (US$16.25 billion) and ¥170 billion ($21.25 billion). The following year, the estimated cost had revised to ¥200 billion ($25 billion), or ¥150 million per kilometer. Due to rapid rises in the costs of labor, construction materials and land acquisitions over the previous years, by July 2008, the estimated cost was increased to ¥220 billion ($32 billion). By then, the state-owned company Beijing–Shanghai high-speed railway, established to raise funds for the project, had raised ¥110 billion, with the remaining to be sourced from local governments, share offerings, bank loans and, for the first time for a railway project, foreign investment. In the end, investment in the project totaled ¥217.6 billion ($34.7 billion). In 2016 it was revealed, that last year the Beijing–Shanghai High-Speed Railway Company (BSHSRC) has total assets of