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China Eastern Airlines Corp. Ltd.

Company Background

China Eastern Airlines is a major Chinese airline based in Shanghai. It was established in 1988, following the restructuring of China's civil aviation administration, with operations originally focused on the Shanghai area. The company is listed on the New York Stock Exchange, Hong Kong Exchanges and Clearing, and the Shanghai Stock Exchange.

China Eastern Airlines is one of China's top three carriers, along with Air China and China Southern Airlines. It is a member of the SkyTeam alliance network.

The airline has about 70,000 employees, flies to about 1,000 destinations in 170 countries and serves about 80 million passengers per year. Its fleet has about 500 total aircraft from the U.S. maker Boeing and French manufacturer Airbus.

Chairman Liu Shaoyong is a former pilot in the People's Liberation Army Air Force. He became chairman of China Southern Airlines in 2004, and joined China Eastern Airlines in 2008. Liu's goal is to improve services and further globalize the airline.

Business Summary

China Eastern Airlines Corp. Ltd. engages in the provision of passenger and cargo air transportation services. It operates through Airline Transportation Operations and Other segments. The Airline Transportation Operations segment provides passenger, cargo, mail delivery, ground service, and cargo handling services. The Other segment comprises tour operations, air catering, and other miscellaneous services. The company was founded on April 14, 1995 and is headquartered in Shanghai, China.

Financial Highlights

Dec 2020 HKDUSD
Revenue65,991.14M8,508.40M
Gross Profit-15,502.47M-1,998.77M
Operating income-21,890.67M-2,822.41M
Income before tax-18,420.70M-2,375.02M
Net income-13,300.03M-1,714.80M
EBITDA3,117.12M401.89M
Diluted EPS-0.81-0.10
Dividends Per Share00
Total Assets337,492.49M43,525.79M
Total liabilities267,357.13M34,480.56M
Total equity66,691.07M8,601.02M
Operating cash flow-4,680.18M-603.42M
Currency in HKDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 115,561.26M 118,162.57M 136,541.47M 137,188.01M 65,991.14M
Gross Profit 21,320.13M 15,477.88M 14,584.18M 16,564.25M -15,502.47M
Operating income 8,243.19M 3,526.13M 3,456.23M 3,269.08M -21,890.67M
Income before tax 7,372.72M 9,638.65M 4,325.62M 4,554.94M -18,420.70M
Net income 5,255.54M 7,312.87M 3,195.65M 3,619.46M -13,300.03M
EBITDA 22,357.68M 19,103.19M 20,988.52M 28,277.60M 3,117.12M
Diluted EPS 0.38 0.50 0.22 0.23 -0.81
Dividends Per Share 0.11 0.06 0 0.05 0
Total Assets 236,877.44M 275,774.70M 272,564.74M 319,006.63M 337,492.49M
Total liabilities 178,455.76M 205,214.92M 202,317.60M 237,745.14M 267,357.13M
Total equity 55,168.46M 66,456.65M 66,149.83M 77,192.03M 66,691.07M
Operating cash flow 25,652.62M 18,543.94M 21,636.41M 26,885.15M -4,680.18M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 14,887.20M 15,163.01M 17,421.45M 17,509.19M 8,508.40M
Gross Profit 2,746.57M 1,986.17M 1,860.80M 2,114.08M -1,998.77M
Operating income 1,061.93M 452.48M 440.98M 417.23M -2,822.41M
Income before tax 949.79M 1,236.86M 551.91M 581.34M -2,375.02M
Net income 677.04M 938.41M 407.73M 461.94M -1,714.80M
EBITDA 2,880.23M 2,451.38M 2,677.94M 3,609.04M 401.89M
Diluted EPS 0.04 0.06 0.02 0.03 -0.10
Dividends Per Share 0.01 0.00 0 0.00 0
Total Assets 30,552.41M 35,277.48M 34,813.20M 40,941.32M 43,525.79M
Total liabilities 23,017.19M 26,251.38M 25,840.92M 30,512.22M 34,480.56M
Total equity 7,115.61M 8,501.22M 8,448.95M 9,906.82M 8,601.02M
Operating cash flow 3,304.70M 2,379.62M 2,760.61M 3,431.33M -603.42M

Valuation Measures

Dec 2020
PER--
ROA-4.05%
ROE-18.48%
Operating margin-33.17%
Profit margin-20.15%

Key executives

  • Vice Chairman, President & General Manager: Yang Min Li
  • Chief Financial Officer & Vice President: Zhou Qimin
  • Vice President: Sheng Xi
  • Vice President: Guo Wei Cheng
  • Vice President: Tie Xiang Liu

Shareholders

  • China State-Owned Assets Supervision & Admn Commission (50.7%)
  • Juneyao Airlines Co., Ltd. (10.7%)
  • Delta Air Lines, Inc. (9%)
  • US Global Investors, Inc. (Asset Management) (1.7%)
  • The Vanguard Group, Inc. (1.1%)
  • Dimensional Fund Advisors LP (0.6%)
  • Norges Bank Investment Management (0.6%)
  • BlackRock Investment Management (UK) Ltd. (0.6%)
  • Union Investment Privatfonds GmbH (0.3%)
  • Sands Capital Management LLC (0.0%)

Contact Details

  • Website:http://www.ceair.com
  • Address: CEA Building, Minhang District, 36 Hongxiang 3rd Road, Shanghai, 201100, China
  • Phone: +86.21.6268.6268

Related Companies

  • Eastern Airlines Yunnan Co., Ltd.
  • One Two Three Airlines Co., Ltd.
  • China Eastern Airlines Technology Co., Ltd.
  • China Eastern Airlines E-Commerce Co., Ltd.
  • China Eastern Airlines Application Development Center Co.
  • China Eastern Group Finance Co., Ltd.
  • China Eastern Airlines Executive Air Co., Ltd.
  • China Eastern Media Corp. Ltd.
  • Shanghai East Union Aviation Wheels Brakes Maint Svc Overhaul
  • Shanghai Eastern Logistics Co. Ltd.
  • China Eastern Airlines Yunnan Co., Ltd.
  • Eastern Air Overseas (Hong Kong) Co., Ltd.
  • Joy Air Co., Ltd.
  • Eastern Airlines Hotel Co., Ltd.
  • Shanghai Eastern Flight Training Co., Ltd.
  • Shanghai Eastern Maintenance Co. Ltd.
  • China Eastern Aviation Import & Export Corp.
  • China Southwest Airlines
  • China Eastern Airlines Wuhan Co., Ltd.
  • China Eastern Airlines Jiangsu Co., Ltd.
  • China Cargo Airlines Co., Ltd.
  • China Yunnan Airlines
  • China Northwest Airlines
  • China United Airlines Co. Ltd.
  • Shanghai Airlines Co., Ltd.
  • Wuhan Airlines Co.

Competitors

  • China Airlines Ltd.
  • China Southern Airlines Company Limited Class H
  • Spring Airlines Co., Ltd. Class A
  • Cathay Pacific Airways Limited
  • Eva Airways Corporation
  • Air China Limited Class H
  • Juneyao Airlines Co., Ltd. Class A
  • Air Canada
Last Updated on 13 May, 2021

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