China China Eastern Airlines Liu Shaoyong, chairman of 18.7 billion yuan in the first half of the year

Liu Shaoyong, chairman of China Eastern Airlines, resigned, and the company's vice chairman Li Yangmin chairman and other chairman. At the same time, the company released the 2022 semi -annual report. The losses in the first half of the year expanded, with a net loss of 18.736 billion yuan.

In the first half of 2022, it was repeatedly impacted by the new crown pneumonia's epidemic. Civil aviation faced unprecedented difficulties. Civil aviation transportation production fell into a trough. The total transport volume of transportation was 29.34 billion tons of kilometer, which was 46.7%in the same period in 2019 and 118 million passenger transportation. 36.7%of the same period.

China Oriental Airlines Co., Ltd. (hereinafter referred to as: China China Eastern Airlines, 600115.SH) recently disclosed the annual data announcement in July 2022. Passenger transportation capacity (according to available seats) decreased by 32.80%year -on ) A year -on -year decrease of 39.85%.

At the same time, according to the semi -annual report disclosed by China China Eastern Airlines, the company's losses in the first half of the year expanded, with a net loss of 18.736 billion yuan. It was found that the network sent an interview letter to China China Eastern Airlines to send an interview letter to the public. However, as of press time, China China Eastern Airlines did not explain reasonably.

Two -year accumulation of more than 24 billion

Public information shows that China Eastern Airlines is headquartered in Shanghai and was listed on the listing of New York, Hong Kong, and Shanghai Stock Exchange in 1997. It is the first airline to listed in the three places of China Civil Aviation. As of the end of 2021, a modern fleet composed of 758 passenger aircraft (including 6 official aircraft), the average age of the main model was about 7.7 years.

On the evening of August 12, China China Eastern Airlines disclosed the "Announcement on the Corporation of the Chairman". Due to the retirement, Liu Shaoyong resigned to the company's board of directors, chairman, chairman of the board of directors, chairman, members of the salary committee, and "Hong Kong Joint Trading Co., Ltd. Securities Co., Ltd. Securities The authorization representatives required by the Listing Rules.

At the same time, the company disclosed the "Announcement of the Ninth Board of Directors' 19th General Conference Resolution", and the meeting reviewed and approved the "Proposal on the Responsibilities of Vice Chairman Li Yumin and the Responsibilities of Legal Representatives". Agree to recommend the company's vice chairman Li Yumin, the chairman of the company and the chairman of the board of directors and the chairman of the compensation committee, and the duties of legal representatives on the behalf of the board of directors.

In the first half of this year, China Eastern Airlines's losses expanded. On the evening of August 30, the company disclosed the "Semi -annual Report of 2022". In the first half of the year, the operating income achieved 19.354 billion yuan, a year -on -year decrease of 44.24%; the net profit loss of returned mother was 18.736 billion yuan. The net loss of 5.208 billion yuan in the same period last year was expanded.

(Picture source: China Eastern Airlines Announcement)

The main reason for the pre -losses of China Eastern Airlines, in the announcement, stated that the company's headquarters is located in Shanghai and has experienced severe challenges of the impact of the epidemic. At the same time, international oil prices have risen sharply and the depreciation of the exchange rate of the RMB against the US dollar has further aggravated the company's cost pressure. Although the company goes up and down to increase the revenue, but under the influence of the epidemic situation and other external adverse factors, it is expected that the company will have a major loss in the semi -annual operating performance in 2022.

In the first two years, China China Eastern Airlines had suffered more than 24 billion. Wind data shows that in 2020 and 2021, China China Eastern Airlines realized operating income of 58.639 billion yuan and 67.127 billion yuan, respectively, with a year-on-year growth rate of -51.48%and 14.48%. 100 million yuan, a year-on-year growth rate of -470.42%and -3.20%, respectively.

(Picture source: Wind)

The guest rate decreases, and the purchase of 100 A320neo series aircraft

In the first month of the second half of the year -July, China Eastern Airlines' guest rate is generally declining year -on -year.

On the evening of August 15, China China Eastern Airlines disclosed the "Announcement of Operation Data in July 2022". In July %; Passenger turnover decreased by 39.85%year -on -year, of which the number of passengers in China, international and regional routes decreased by 39.97%, 5.74%, and 99.05%year -on -year respectively. The passenger rates of the routes decreased by 8.17 percentage points year -on -year, an increase of 8.93 percentage points, and a decrease of 14.68 percentage points.

(Picture source: China Eastern Airlines Announcement)

As of the end of July 2022, China East Airlines had operated a total of 754 aircraft, including 265 own aircraft, 272 financial leasing aircraft, and 217 rental aircraft. It is worth noting that in July, China China Eastern Airlines introduced 4 aircraft and had no aircraft withdrawal.

Although the development of the entire aviation industry has been blocked in the past two years, and China China Eastern Airlines has also had great impact, it seems confident in the future of the industry. In early July, China China China Eastern disclosed the "Announcement on Buy Aircraft". On July 1, 2022, the company signed the "Buy 100 A320NEO Series Agreement" with Airbus Company (hereinafter referred to as Airbus) in Shanghai, China, and to Airbus The company purchases 100 A320neo series aircraft.

(Picture source: China Eastern Airlines Announcement)

The above 100 planes are planned to be delivered in batches from 2024 to 2027.Among them, 28 plans were planned in 2024, 31 were planned in 2025, 34 were planned in 2026, and 7 were planned to be delivered in 2027.It is understood that the basic price of the 100 A320NEO series aircraft purchased by China China China Eastern Airlines this time is about $ 12.796 billion. According to the signing of this transaction agreement on the day of the transaction agreement, the RMB -US dollar intermediate price exchange rate announced by the People's Bank of China on the day of the transaction agreement is about 85.778 billionYuan RMB.

China China China Eastern Airlines stated that based on confidence in the future development of the civil aviation industry, the company needs to plan and reserve the capacity of the fleet in advance. During the introduction of the aircraft during the introduction of the aircraft, part of the company's narrow -body aircraft due to the greater age of the aircraft and the expiration of the lease expiration, etc.The reasons will be withdrawn one after another, so the company's 100 aircraft will partially partially plays a role in replacement and update of existing models.In the case of the aviation market that has not fully recovered, the company's introduction of aircraft is conducive to better business conditions.

(Reporter Luo Xuefeng Financial Researcher Liu Yue)

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