Company Quick10K Filing
China Eastern Airlines
20-F 2019-12-31 Filed 2020-04-29
20-F 2018-12-31 Filed 2019-04-26
20-F 2017-12-31 Filed 2018-04-25
20-F 2016-12-31 Filed 2017-04-27
20-F 2015-12-31 Filed 2016-04-25
20-F 2014-12-31 Filed 2015-04-22
20-F 2013-12-31 Filed 2014-04-25
20-F 2012-12-31 Filed 2013-04-24
20-F 2011-12-31 Filed 2012-04-24
20-F 2010-12-31 Filed 2011-06-29
20-F 2009-12-31 Filed 2010-06-24

China Eastern Airlines Financials

CEA Metrics, Comps, Filings

Quarterly | Annual

Business

Our registered office is located at 66 Airport Street, Pudong International Airport, Shanghai, China, 201202. Our principal executive office and mailing address is 5/F, Block A2, Northern District, CEA Building, 36 Hongxiang 3rd Road, Minhang District, Shanghai, China. The telephone number of our principal executive office is (86-21) 6268-6268 and the fax number for the Board Secretariat's office is (86-21) 6268-6116. We currently do not have an agent for service of process in the United States.

Our Company, China Eastern Airlines Corporation Limited was established on April 14, 1995 under the laws of China as a company limited by shares in connection with the restructuring of our predecessor and our initial public offering. We are commercially known in the industry as China Eastern Airlines. Our predecessor was one of the six original airlines established in 1988 as part of the decentralization of the airline industry in China undertaken in connection with China's overall economic reform efforts. Prior to 1988, the CAAC was responsible for all aspects of civil aviation in China, including the regulation and operation of China's airlines and airports. In connection with our initial public offering, our predecessor was restructured into two separate legal entities, our Company and EA Group. According to the restructuring arrangement, by operation of law, our Company succeeded to substantially all of the assets and liabilities relating to the airline business of our predecessor. EA Group succeeded to our predecessor's assets and liabilities that do not directly relate to the airline operations and do not compete with our businesses. Assets transferred to EA Group included our predecessor's equity interests in companies engaged in import and export, real estate, advertising, in-flight catering, tourism and certain other businesses. In connection with the restructuring, we entered into various agreements with EA Group and its subsidiaries for the provision of certain services to our Company. CEA Holding assumed the rights and liabilities of EA Group under these agreements after it was formed by merging EA Group, Yunnan Airlines Company and China Northwest Airlines Company in October 2002. See "Item 7. Major Shareholders and Related Party Transactions" for more details.

The following chart sets forth the organizational structure of our Company and our significant subsidiaries as of December 31, 2018:


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Azul (AZUL) 25,351 46% 28.4 -3% 2,948 2,157 8,149 3,714 -81 889 25,239
United Continental (UAL) 21,683 58% 4.8 6% 52,611 41,080 43,259 25,181 3,010 6,935 33,548
American Airlines Group (AAL) 12,819 55% 6.1 3% 59,995 60,113 45,768 24,980 1,686 5,331 32,691
Alaska Air Group (ALK) 8,498 59% 5.6 6% 12,993 8,662 8,781 5,152 769 1,517 8,482
Jetblue Airways (JBLU) 5,642 62% 4.9 5% 11,918 7,119 8,093 5,054 569 1,372 6,681
Skywest (SKYW) 2,946 13% 12.5 0% 6,598 4,481 3,032 387 0 451 5,647
Life Time Fitness (LTM) 2,775 9% 11.8 4% 2,729 1,599 1,310 124 111 333 3,942
Spirit Airlines (SAVE) 2,489 0% 6.4 5% 6,575 4,395 3,724 0 346 585 3,757
Allegiant Travel (ALGT) 2,391 0% 8.8 6% 2,834 2,008 1,380 0 172 398 3,496
Air Transport Services (ATSG) 1,508 0% 8.3 4% 2,745 2,264 1,330 0 101 350 2,913
Hawaiian Holdings (HA) 1,251 71% 4.1 4% 4,065 2,998 2,822 2,004 174 356 1,444
Mesa Air (MESA) 241 0% 5.3 3% 1,452 1,026 723 0 48 197 1,051
Air T (AIRT) 42 0% 3.6 7% 143 109 246 0 10 25 91
EHang Holdings (EH)
China Eastern Airlines (CEA) 0% 239,017 177,416 0 0 0 0 -0
Volaris (VLRS) 0% 22,311 13,139 0 0 0 0 -0
Copa Holdings (CPA) 0% 4,087 2,247 0 0 0 0 -0
China Southern Airlines (ZNH) 0% 246,949 168,480 0 0 0 0 -6,909
Ryanair Holdings (RYAAY) 0% 13,251 8,036 0 0 0 0 -35
Avianca Holdings (AVH) 0% 7,119 6,126 0 0 0 0 -265

Balance Sheet ($MM)2017-12-312018-12-31
Cash510
Accounts Receivable
Inventory
PP&E
Assets229,727239,017
Accounts Payable
Long-Term Debt
Liabilities170,949177,416
Stockholders' Equity
Income Statement ($MM)2017-12-312018-12-31
Revenue
Cost of Revenue
Gross Profit
R&D
SG&A
Tax
Net Income
Cash Flow ($MM)2017-12-312018-12-31
Cash Operating
Cash Investing
Cash Financing