China Eastern launches Yunnan subsidiary
Published: August 4, 2011
China Eastern Airlines A319. Photo: Courtesy, Airbus.
China Eastern Airlines formally launched China Eastern Yunnan Co., a joint venture airline set up with the Yunnan provincial government based on assets of CEA’s previous branch company in Yunnan. The move aims to enhance Kunming as a CEA regional hub.
The JV airline has a registered capital of CNY3.66 billion ($ 570 million), in which Shanghai-based CEA holds a 68% stake with an investment of CNY2.38 billion. CEA unveiled the JV last year and the airline received an operating certificate last month ( ATW Daily News, July 30, 2010 ).
The JV carrier operates a fleet of 41 aircraft comprising three Boeing 767-300s, 22 737-700s, 11 737-300s and five CRJ-200s. It plans to expand its fleet to 80 aircraft by 2015 to transport 17 million passengers and 162,000 tonnes of cargo annually.