Eastern Air Logistics (EAL), a subsidiary of China Eastern Airlines Group, officially landed in A-share market
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.
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