China Eastern Airlines Logo – China Eastern Airlines Corporation Limited is an airline based in Shanghai , China . It is one of the largest Chinese airlines operating international flights, domestic and regional. Its main base is Shanghai Pudong International Airport , with secondary base in the Shanghai Hongqiao International Airport . On June 11, 2009, it was announced that China Eastern will merge with Shanghai Airlines . All flights of Shanghai Airlines will codeshare with regard to China Eastern flights to the official merger. The airline has received a rating of three stars Skytrax .
The airline was founded on June 25, 1988, in Huadong Administration. In 1997, China Eastern took over the debts of China General Aviation and also became the first airline in the country to offer shares in the international market. He founded China Cargo Airlines with COSCO in 1998. In March 2001, completed the acquisition of Air Great Wall. a China Yunnan Airlines and China Northwest Airlines were taken over by China Eastern Airlines in 2003.
China Eastern Airlines is owned by the Chinese government (61.64%), Class H shareholders (32.19%) and Class A shareholders (6.17%), and has 29,746 employees (March 2007). had 16,435 employees in January 2005 . On April 20, 2006, spread a possible sale of up to 20% of the shares to foreign investors, including Singapore Airlines , Emirates Airline and Japan Airlines , which was endorsed when it was reported that negotiations were under way.
After receiving government approval Chinese , on September 2, 2007, it was announced that Singapore Airlines and Temasek Holdings (a company that owns 55% of Singapore Airlines) would together acquire shares of China Eastern Airlines. 5 6 The November 9, 2007 , signed the final agreement that investors would acquire 24% stake in China Eastern Airlines: Singapore Airlines would own 15.73% and Temasek Holdings 8.27% of the shares in the airline.
The parent of Air China , China National Aviation Corporation, a state company, announced in January 2008 that it would offer 32% more than Singapore Airlines for 24% stake in China Eastern, complicating importantly intentions Singapore Airlines and Temasek is proposed. 8 However, the minority shareholders declined the offer made by Singapore Airlines. One might think that this decision reflects the significant efforts made by Air China to buy 24% of the company. In any case, this means that an airline member of Star Alliance is the largest shareholder of China Eastern, which is considering entering the alliance Skyteam or Oneworld .