China Eastern Airlines Corp. Ltd.

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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	HKD	USD
Revenue	136,541.47M	17,421.45M
Gross Profit	14,584.18M	1,860.80M
Operating income	3,456.23M	440.98M
Income before tax	4,325.62M	551.91M
Net income	3,195.65M	407.73M
EBITDA	20,988.52M	2,677.94M
Diluted EPS	0.22	0.02
Dividends Per Share	0	0
Total Assets	272,564.74M	34,813.20M
Total liabilities	202,317.60M	25,840.92M
Total equity	66,149.83M	8,448.95M
Operating cash flow	21,636.41M	2,760.61M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 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 2014	Dec 2015	Dec 2016	Dec 2017	Dec 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
PER	17.30
ROA	1.16%
ROE	4.81%
Operating margin	2.53%
Profit margin	2.34%

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%)
The Vanguard Group, Inc. (1.2%)
BlackRock Investment Management (UK) Ltd. (0.6%)
BlackRock Fund Advisors (0.5%)
Dimensional Fund Advisors LP (0.4%)
Norges Bank Investment Management (0.3%)
Schroder Investment Management (Hong Kong) Ltd. (0.2%)
BlackRock Advisors (UK) Ltd. (0.1%)

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 27 Mar, 2020