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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  China Eastern Airlines Corporation Limited    600115   CNE000000TR0

CHINA EASTERN AIRLINES CORPORATION LIMITED

(600115)
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China Eastern's Controlling Shareholder to Get $4.63 Billion Cash Injection

10/12/2020 | 05:50am EST

By Martin Mou

China Eastern Airlines Corp. said Monday that its controlling shareholder China Eastern Air Holding Co. will get a cash injection from four state investors, joining its regional rivals in receiving state financial support during the aviation downturn.

Controlling shareholder China Eastern Air Holding, which is ultimately owned by the Chinese government, will receive 31.0 billion yuan ($4.63 billion) in cash and use the new funds to expand its aviation business, the Chinese airline said.

China Eastern Air Holding will receive CNY11.0 billion from China Life Investment Holding Co. and CNY10.0 billion from Shanghai Jiushi, an investment entity of the Shanghai municipal government.

The other two investors, China Reform Holdings Corp. and China Tourism Group, will each contribute CNY5.0 billion.

Earlier this year, China Eastern's rivals Cathay Pacific Airways Ltd. and Singapore Airlines Ltd. raised funds from the Hong Kong government and Singapore government-backed entities, respectively, to tide over the downturn caused by the Covid-19 pandemic.

Write to Martin Mou at martin.mou@wsj.com

(END) Dow Jones Newswires

10-12-20 0549ET

Stocks mentioned in the article
ChangeLast1st jan.
CATHAY PACIFIC AIRWAYS LIMITED -1.38% 7.14 End-of-day quote.-0.42%
CHINA EASTERN AIRLINES CORPORATION LIMITED -0.65% 4.58 End-of-day quote.-2.14%
SINGAPORE AIRLINES LIMITED 0.92% 4.39 End-of-day quote.2.57%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.31% 6.48419 Delayed Quote.-0.48%
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More news
Financials
Sales 2020 64 995 M 10 035 M 10 035 M
Net income 2020 -10 760 M -1 661 M -1 661 M
Net Debt 2020 166 B 25 607 M 25 607 M
P/E ratio 2020 -7,30x
Yield 2020 -
Capitalization 65 227 M 10 075 M 10 071 M
EV / Sales 2020 3,56x
EV / Sales 2021 2,11x
Nbr of Employees 80 624
Free-Float 22,2%
Chart CHINA EASTERN AIRLINES CORPORATION LIMITED
Duration : Period :
China Eastern Airlines Corporation Limited Technical Analysis Chart | 600115 | CNE000000TR0 | MarketScreener
Technical analysis trends CHINA EASTERN AIRLINES CORPORATION LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 5,56 CNY
Last Close Price 4,58 CNY
Spread / Highest target 65,7%
Spread / Average Target 21,4%
Spread / Lowest Target -45,4%
EPS Revisions
Managers and Directors
NameTitle
Yang Min Li Vice Chairman, President & General Manager
Shao Yong Liu Chairman
Sheng Xi Chairman-Supervisory Board
Zhou Qimin Chief Financial Officer
Bing Tang Director
Sector and Competitors