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.