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Transportation

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 in June 1988 and is headquartered in Shanghai, China.

Financial Highlights

Dec 2018 HKDUSD
Revenue136,541.47M17,421.45M
Gross Profit14,584.18M1,860.80M
Operating income3,456.23M440.98M
Income before tax4,325.62M551.91M
Net income3,195.65M407.73M
EBITDA20,988.52M2,677.94M
Diluted EPS0.220.02
Dividends Per Share00
Total Assets272,564.74M34,813.20M
Total liabilities202,317.60M25,840.92M
Total equity66,149.83M8,448.95M
Operating cash flow21,636.41M2,760.61M
Currency in HKDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 113,500.48M 115,908.94M 115,561.26M 118,162.57M 136,541.47M
Gross Profit 16,559.73M 22,969.87M 21,320.13M 15,477.88M 14,584.18M
Operating income 2,976.42M 9,294.27M 8,243.19M 3,526.13M 3,456.23M
Income before tax 5,016.49M 6,802.64M 7,372.72M 9,638.65M 4,325.62M
Net income 4,291.58M 5,596.30M 5,255.54M 7,312.87M 3,195.65M
EBITDA 14,460.50M 22,131.11M 22,357.68M 19,103.19M 20,988.52M
Diluted EPS 0.33 0.43 0.38 0.50 0.22
Dividends Per Share 0 0 0.11 0.06 0
Total Assets 207,282.24M 236,304.62M 236,877.44M 275,774.70M 272,564.74M
Total liabilities 167,569.25M 188,646.73M 178,455.76M 205,214.92M 202,317.60M
Total equity 37,466.77M 44,650.24M 55,168.46M 66,456.65M 66,149.83M
Operating cash flow 12,736.31M 26,418.68M 25,652.62M 18,543.94M 21,636.41M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 14,636.38M 14,951.02M 14,887.20M 15,163.01M 17,421.45M
Gross Profit 2,135.44M 2,962.87M 2,746.57M 1,986.17M 1,860.80M
Operating income 383.82M 1,198.86M 1,061.93M 452.48M 440.98M
Income before tax 646.89M 877.46M 949.79M 1,236.86M 551.91M
Net income 553.41M 721.86M 677.04M 938.41M 407.73M
EBITDA 1,864.74M 2,854.67M 2,880.23M 2,451.38M 2,677.94M
Diluted EPS 0.04 0.05 0.04 0.06 0.02
Dividends Per Share 0 0 0.01 0.00 0
Total Assets 26,729.36M 30,490.32M 30,552.41M 35,277.48M 34,813.20M
Total liabilities 21,608.31M 24,341.04M 23,017.19M 26,251.38M 25,840.92M
Total equity 4,831.39M 5,761.21M 7,115.61M 8,501.22M 8,448.95M
Operating cash flow 1,642.40M 3,407.73M 3,304.70M 2,379.62M 2,760.61M

Valuation Measures

Dec 2018
PER17.30
ROA1.16%
ROE4.81%
Operating margin2.53%
Profit margin2.34%

Key executives

  • Vice Chairman, President & General Manager: Yang Min Li
  • Chief Financial Officer & Vice President: Yong Liang Wu
  • Deputy General Manager: You Wen Sun
  • Chief Human Resources Officer & Director: Jun Yuan
  • Deputy General Manager: Guo Wei Cheng

Shareholders

  • China State-Owned Assets Supervision & Admn Commission (50.7%)
  • Juneyao Airlines Co., Ltd. (10.2%)
  • Delta Air Lines, Inc. (9%)
  • LUO YI FAMILY (3.3%)
  • The Vanguard Group, Inc. (1.2%)
  • Shanghai Chongyang Investment Management Co., Ltd. (1.0%)
  • BlackRock Investment Management (UK) Ltd. (0.7%)
  • BlackRock Fund Advisors (0.5%)
  • Dimensional Fund Advisors LP (0.4%)
  • Schroder Investment Management (Hong Kong) Ltd. (0.2%)

Contact Details

  • Website:http://www.ceair.com
  • Address: 5/F, Block A2, Northern CEA Building, 36 Hongxiang 3rd Road, Shanghai, 201100, China
  • Phone: +86.21.2233.0929

Related Companies

  • China Eastern Business Jet 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) Corp. 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.
  • Shanghai Airlines Tours International (Group) Co., Ltd.
  • 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
  • Air China Limited Class H
  • Air New Zealand Limited
  • China Express Airlines Co., Ltd. Class A
  • AirAsia Group Bhd.
  • Air Canada
  • Shandong Airlines Co., Ltd. Class B
Last Updated on 21 Feb, 2020

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