Country for PR: China
Contributor: Xinhua News Agency
Friday, June 11 2021 - 15:28
AsiaNet
Eastern Air Logistics (EAL), a subsidiary of China Eastern Airlines Group, officially landed in A-share market
SHANGHAI, June 11, 2021 /Xinhua-AsiaNet/--

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.