PR90027

SHANGHAI, June 11, 2021 /Xinhua=KYODO JBN/--

On June 9, China Eastern Air Logistics Co., Ltd. (601156. SH) was listed on the

main board of Shanghai Stock Exchange, issued "the first share of mixed

ownership reform of aviation". It soared 44 percent on listing day and its

share price reached the upper limit of 22.71 yuan ($3.55) per share at the

Shanghai Stock Exchange on Wednesday.

Eastern Air Logistics is a modern integrated logistics service enterprise of

China Eastern Airlines Group. According to the prospectus, the main business of

EAL is the integrated service business of air logistics, which integrates

business functions such as air express transportation, cargo terminal

operation, multimodal transport, warehousing, cross-border e-commerce

solutions, inter-industry project supply chain, aviation special cargo

solutions and direct origin solutions.

By the end of 2020, China Cargo Airlines, a subsidiary of Eastern Air

Logistics, has sufficient cargo resources including 10 cargo planes and 725

passenger planes. Relying on SkyTeam, Code Sharing and SPA agreements, the

route network reaches 1,036 destinations in 170 countries around the world.

Eastern Air Logistics has 17 self-operated cargo terminals and covers 12

airports. Among them, Shanghai Pudong Airport and Shanghai Hongqiao Airport are

the main bases of EAL, while Shanghai Pudong Airport is the third largest

airport in the world in terms of cargo and mail throughput.

Financial data show that from 2016 to 2020, the operating income of Eastern Air

Logistics was increased from 5.837 billion yuan to 15.11 billion yuan, with an

average annual growth rate of 26.84%; the total profit was increased from 485

million yuan to 3.638 billion yuan, achieving a 65.48% annual profit growth

rate; the asset-liability ratio was dropped from 85.88% to 37.39%, and net

asset was increased by 6.72 times. The passive situation of continuous loss was

reversed at one stroke, and the vitality, profitability and risk resistance of

the company were also significantly enhanced.

It is claimed by the International Air Transport Association (IATA) that

according to the global air transport data in January 2021, the global air

cargo demand exceeded the level in January 2019. Willie Walsh, president of

IATA, said that the demand for air cargo not only recovered from COVID-19

epidemic crisis, but also continued to grow. One of the main challenges facing

by air cargo is to obtain sufficient capacity. He said that by understanding

the recovery of passenger demand, the prospect of air cargo capacity can be

clearly defined, and that the efficient layout of air cargo operation will be

the key to a full recovery.

It is known that through flexible adjustment of the global route network,

transport capacity direction and aircraft structure, Eastern Air Logistics has

given priority to the transportation of vaccines and other important materials.

EAL has flown to more than 20 countries and carried out all kinds of

anti-epidemic flights, transporting more than 70,000 tons of medical materials.

Source: China Eastern Airlines Group

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=393520

   Caption: The share price of China Eastern Air Logistics Co., Ltd. (601156. SH) reached

the upper limit of 22.71 yuan ($3.55) per share at the Shanghai Stock Exchange

on Wednesday.

   Link: http://asianetnews.net/view-attachment?attach-id=393526

   Caption: All cargo carriers of China Eastern Air Logistics Co., Ltd.