Eastern bound Yunnan

After a year of waiting, Oriental Airlines Co., Ltd. (600115. SH, hereinafter referred to as "Eastern Airlines" and Yunnan province Sasac jointly invested in the formation of the joint venture company "Eastern Airlines Yunnan Company", finally the dust settled. On the afternoon of July 27, an executive of China Eastern Airlines Yunnan Branch disclosed to our correspondent: "The joint venture will hold a listing ceremony tomorrow." "China Eastern Airlines 27th announced that the joint venture company registered capital of 3.66 billion yuan, China Eastern capital of 2.38 billion yuan (cash 700 million, eastern Yunnan Branch and aviation operations related to the net assets of 1.68 billion), in the joint venture company shares 65%　　Yunnan Sasac invested 1.28 billion yuan (cash 254 million, part of the land use rights of the new airport in Kunming 1.028 billion) and held 35% of its shares. As early as May 31, 2009, China Eastern has signed a strategic cooperation agreement with the Yunnan provincial government in Kunming, and has decided to invest in a new company with a share of 65% and 35% per cent. "Today is the engagement ceremony, we are about to prepare the dowry, and I hope to have a marriage ceremony soon."　　"The same day, Shaoyong said. But after that, first is a year. According to Shaoyong's plan at that time, complete the joint venture between China Eastern Airlines Yunnan Branch and Yunnan provincial Sasac, and then fully promote the restructuring of the Eastern Airlines and the AVIC.　　But in January 2010, the "Restructuring of the East" has been completed, China Eastern Airlines and the Yunnan provincial government's joint venture is still not fruition. "In fact, the establishment of the joint venture has not stopped." "27th, in Kunming to participate in the joint venture company listing ceremony," said an eastern airline Personage explained, "the preparation of the new company to be approved by the Civil Aviation Bureau, the Trade and Industry Bureau and other aspects, the Yunnan provincial government in the joint venture capital investment Way is also quite hesitant." "And, last May, China Eastern Airlines and the Yunnan provincial government agreed the name of the joint venture is not" Eastern Airlines Yunnan Company ", but" Yunnan airlines. " However, according to the requirements of the Civil Aviation Authority, the newly registered company must have its own code and logo, if the "Yunnan Airlines" name, the joint venture company can no longer follow the MU code and Swallow logo. "China Eastern has decided to join the Union, will soon be able to enjoy the benefits of joining the Alliance, if the joint venture does not use the code and logo of the Eastern Airlines, would not be conducive to its development."　　Said the eastern airline. In the end, the "Eastern Airlines Yunnan Company" was established, so that Shaoyong get the wish. In charge of China Eastern Airlines soon put forward, to make Shanghai as the core hub of Eastern Airlines, Kunming, Xi ' an to create a regional hub. The two regional hubs, Kunming and Xi ' An, are the wings of Shanghai's core hub and play an important role in the stability of the company's route network.　　"As a famous tourist attraction at home and abroad, Yunnan has 12 airports, of which the number of flights out of Kunming airport per day is more than 200, more than Shanghai Hongqiao Airport." At present, China Eastern Airlines Yunnan branch has 42 aircraft, in the Yunnan market share of 48.9%, in the Kunming market share of about 45%. The latter digit distance Shaoyong set "50%" The goal still has the big disparity. "Now the airlines that fly Yunnan have nearly 30, the competition is too fierce.　　"A vice president of China Eastern Airlines Yunnan Branch said to reporters. After the marriage with Yunnan provincial government, the expansion of Eastern Airlines will be more convenient.　　At present, Yunnan's 12 airports are all under the control of the Yunnan provincial government, China Eastern will undoubtedly have more support in policy and airport resources.　　In fact, after the Shaoyong December 2008 Airborne East, vigorously promote cooperation with local government, has become an important strategy of China Eastern Airlines: January 12, 2010, the Eastern Airlines and the Jiangsu provincial Government signed a strategic cooperation framework agreement, in May, Eastern Airlines and the Henan provincial government signed a strategic cooperation agreement. "We do not pursue the Yunnan provincial government has the amount of capital injection, we hope that the interests of both sides together to form a community of interests." Nail, an executive at China Eastern's Yunnan branch.