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china eastern airlines co-a (600115) Details

China Eastern Airlines Corporation Limited, together with its subsidiaries, operates in the civil aviation industry. It offers passenger, cargo, mail delivery, and other extended transportation services. The company also provides flight training, cargo carriage, cargo logistics, airlines consultation services. In addition, it is involved in the provision of import and export, investment, leasing, and consultation services; travel, conference, and exhibition services; hotel services; and maintenance aircraft, engine, and other related components maintenance services. As of December 31, 2014, the company operated a fleet of 151 aircrafts, including 485 passenger aircrafts, 12 freighters, and 18 business aircrafts. It has operations in Hong Kong, Macau, Taiwan, and internationally. The company was founded in 1988 and is headquartered in Shanghai, the People’s Republic of China. China Eastern Airlines Corporation Limited is a subsidiary of China Eastern Air Holding Company.

69,894 Employees
Last Reported Date: 08/17/15
Founded in 1988

china eastern airlines co-a (600115) Top Compensated Officers

Vice Chairman, President and Chairman of Avia...
Total Annual Compensation: CNY745.0K
Vice President, Party Secretary, Director, Ch...
Total Annual Compensation: CNY669.0K
Vice President, Director and Member of Planni...
Total Annual Compensation: CNY632.0K
General Manager of Audit Department and Super...
Total Annual Compensation: CNY436.0K
Compensation as of Fiscal Year 2014.

china eastern airlines co-a (600115) Key Developments

The Australian Competition and Consumer Commission Approves Qantas's Joint Venture with China Eastern

The competition watchdog has approved Qantas's joint venture with China Eastern, despite warning that allowing the carriers to coordinate their services could be to the public detriment on some routes. The Australian Competition and Consumer Commission has approved the joint venture between the airlines for five years, despite flagging plans to reject the proposal in March. ACCC said the airlines' plans to increase capacity on routes between Australia and China as part of the agreement would benefit travelers. However, Qantas and China Eastern dominated the Sydney to Shanghai route, which meant the joint venture would likely hurt competition on services between those cities and would be of significant public detriment.

China Eastern Airlines Corp. Ltd. Enters into Purchase Agreement with Airbus SAS

On 14 August 2015, China Eastern Airlines Corp. Ltd. entered into the purchase agreement with Airbus SAS (as the seller) regarding the Acquisition. The aircraft basic price of the Airbus Aircraft in aggregate is approximately USD 3.63 billion (equivalent to approximately RMB 23.232 billion) based on the relevant price catalog in 2013. The aircraft basic price of each Airbus A330 series aircraft is approximately USD 242 million (equivalent to approximately RMB 1.549 billion). Such aircraft basic price comprises the airframe price, engine price and optional equipment price. The purchase agreement was negotiated and entered into in accordance with customary business and industry practice, under which Airbus SAS has granted to the company substantive price concessions with regard to the Airbus Aircraft. Such price concessions were determined after arm's length negotiations between the company and Airbus SAS and as a result, the Consideration is significantly lower than the aircraft basic price of the Airbus Aircraft mentioned above. The Airbus Aircraft will supplement the company's loss of flight capacity resulting from the retirement of several wide-body aircraft in the next few years and be used to satisfy the increasing demand in the company's long-and-medium haul passenger markets, and to strengthen the company's competitiveness in the relevant passenger markets. The acquisition is beneficial towards further expanding the fleet scale of A330 series aircraft, optimizing the fleet structure and improving the company's economic benefits. Without considering the adjustments to be made to the aircraft fleet of the company as a result of the market conditions and the age of the aircraft, the Acquisition will increase the ATKs of the company by approximately 5.95% (based on the ATKs of the company as at 31 December 2014).

China Eastern Airlines Corp. Ltd. Announces Unaudited Consolidated Earnings and Operating Results for the Six Months Ended June 30, 2015

China Eastern Airlines Corp. Ltd. announced unaudited consolidated earnings and operating results for the six months ended June 30, 2015. For the six months, the company announced revenues of RMB 44,371 million compared to RMB 43,094 million for the same period a year ago. Operating profit was RMB 5,726 million compared to RMB 1,602 million for the same period a year ago. Profit before income tax was RMB 4,688 million compared to RMB 203 million for the same period a year ago. Profit attributable to equity shareholders of the company was RMB 3,562 million compared to RMB 12 million for the same period a year ago. Earnings per share attributable to the equity shareholders of the company during the period, basic and diluted was RMB 0.2810 compared to RMB 0.0009 for the same period a year ago. Net cash inflow from operating activities was RMB 10,241 million compared to RMB 5,262 million for the same period a year ago. Additions of property, plant and equipment was RMB 369 million compared to RMB 414 million for the same period a year ago. Weighted average return on net assets was 120.9%. For six months, ATK (available tonne ­ kilometres) was 12,055.22 million against 10,891.58 million a year ago. ASK (available seat ­ kilometres) was 86,106.75 million against 76,931.77 million a year ago. AFTK (available freight tonne ­ kilometres) was 4,305.62 million against 3,967.72 million a year ago. RTK (revenue tonne ­ kilometres) was 8,554.37 million against 7,752.63 million a year ago. RPK (revenue passenger ­ kilometres) was 69,220.14 million against 61,499.79 million a year ago. RFTK (revenue freight tonne ­ kilometres) was 2,415.72 million against 2,294.35 million a year ago. Overall load factor was 70.96% against 71.18% a year ago.

 

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600115 Competitors

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Company Last Change
Air China Ltd CNY8.59 CNY +0.58
ANA Holdings Inc ¥340.80 JPY +0.80
Cathay Pacific Airways Ltd $13.76 HKD -0.04
China Southern Airlines Co Ltd CNY8.18 CNY +0.06
Singapore Airlines Ltd $9.84 SGD -0.02
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Industry Analysis

600115

Industry Average

Valuation 600115 Industry Range
Price/Earnings 13.6x
Price/Sales 1.0x
Price/Book 2.9x
Price/Cash Flow 3.9x
TEV/Sales NM Not Meaningful
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