Orient Airlines to integrate freight business

Oriental Airlines (600115) announced that the company and China Ocean Transport Group, Concord Pacific Limited, Singapore Cargo Airlines to China Air Cargo Co., Ltd. June 30, based on the evaluation of its capital increase.　　After the completion of the replenishment of China Cargo Airlines will also be in cash to Shanghai International Freight Forwarding Co., Ltd. to purchase its air cargo main business and related assets, and in cash to the Great Wall airlines to buy its air cargo main business and associated assets.　　AVIC is a subsidiary of Orient Airlines, while Great Wall Airlines is a holding subsidiary of China Eastern Airlines Group, a controlling shareholder of Eastern Airlines. The independent director of the Company believes that the strategic objective of the reorganization and integration of the freight forwarding business is to conform to the National Logistics revitalization planning and the needs of the construction of two Shanghai centers, and to develop China cargo airlines into an aviation logistics enterprise with international market competitiveness.