The total transportation turnover completed in 2019 is 253.2.2 billion ton kilometers、Passenger transport volume 1.30.4 billion people、Freight and mail transportation volume 147.260,000 tons，A year-on-year increase of 9.3%、7.6%、2.0%；2703 available seat kilometers invested.2.8 billion seat kilometers，Growth 10.4%。

This is the full-year operating data for 2019 disclosed by China Eastern Airlines at the just held annual work meeting。At work meeting，China Eastern Airlines Chairman Liu Shaoyong also revealed，China Eastern Airlines Group’s equity diversification reform will make substantial progress in 2020，And speed up the pace of listing logistics companies，Strive to be listed on A-shares in the first half of 2020。

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Currently，China Eastern Airlines Group includes China Eastern Airlines (600115)，China Eastern Financial Holdings，China Eastern Import and Export，China Eastern Airlines Investment and other industrial sectors，Among them, aviation’s main business contributes an important share to profits。At the work meeting，China Eastern Airlines Group disclosed that it has achieved profitability for 11 consecutive years。

The increase in profits is closely related to strict cost control。Due to the “tight living” plan formulated at the beginning of the year，China Eastern Airlines revealed at the annual work meeting，The company’s operating cost growth rate is lower than the growth rate of transportation 188bet app download capacity and revenue，And the best performance among the three major airlines。

Meanwhile，With the completion and operation of Beijing Daxing International Airport，And the opening of Pudong Airport Satellite Hall，China Eastern Airlines has also officially launched the operation model of "dual core hubs with four markets in Beijing and Shanghai"。

China Eastern Airlines headquartered in Shanghai，In the past few years, we have been building Shanghai as the company’s sole core hub，Xi’an、Kunming is a regional hub。At the annual work meeting，China Eastern Airlines revealed that its market share in the Yangtze River Delta exceeds 30%，Market share exceeds 40% in Shanghai。

And among the key tasks in 2019，China Eastern Airlines has elevated Beijing to the status of a core hub，This is not unrelated to the relocation of operations from Capital Airport to Daxing Airport。

Long time，Beijing market with many business travelers and shorter flight time to Europe and the United States，It has always been a battleground for domestic airlines，However, it is subject to the tight airspace resources in Beijing and the shortage of airport time，Many airlines cannot obtain ideal flight schedules and traffic rights。

The construction of Daxing Airport has given many airlines a chance to see the light of day。This is 46 kilometers south of Tiananmen、A new airport 70 kilometers away from the Capital Airport，Also positioned as a large international hub airport，Planned passenger throughput by 2025: 72 million，This is an important increment for China Eastern’s future development。

Currently，China United Airlines, a low-cost airline owned by China Eastern Airlines, has all transferred operations to Daxing Airport，China Eastern Airlines’ routes in Beijing (except Beijing-Shanghai Express) will also be transferred to Daxing before the end of March 2020。

“2020 is the first year for China Eastern Airlines to enter a new 188bet online sports betting stage of high-quality development in the new era，Facing the integration of the Yangtze River Delta、Coordinated development of Beijing, Tianjin and Hebei、Major regional development opportunities such as the Guangdong-Hong Kong-Macao Greater Bay Area，Efforts should be made to increase the share of key markets，Leverage the unique operational advantages of the dual core hubs of four markets in Beijing and Shanghai，Construct and operate four major hubs with high quality。" Li Yangmin, general manager of China Eastern Airlines (600115) pointed out。

Acceleration Groupand subsidiariesMixed reform

Currently，China Eastern Airlines is making every effort to create full services、Low cost、Three main businesses of logistics，and MRO、Flight food、Technological Innovation、Financial Trade、Five major industrial sectors of the industrial investment platform，At the same time, we are stepping up the work of mixed ownership reform from the group to the subsidiaries level。

In fact, in terms of introducing external capital and partners，China Eastern Airlines has always been at the forefront，Mainly concentrated at the level of listed companies and subsidiaries。For example, China Eastern Airlines (600115) has successively introduced Ctrip and Delta Air Lines, the most profitable airline in the United States, as shareholders，And has carried out many in-depth cooperation at the business level with the first two，This year, we achieved mutual shareholding with Juneyao Airlines (603885), which is also based in Shanghai。

According to reporter’s understanding，At present, China Eastern Airlines and Juneyao have signed a strategic cooperation agreement，Officially launches "equity + business" comprehensive cooperation，Both parties will operate on flights、Guarantee、Maintenance、Logistics trade、Financial Investment、Carry out in-depth cooperation in various 188bet Online Sports Betting and Casino key business areas such as talent training。Li Yangmin, general manager of China Eastern Airlines, and Wang Junjin, chairman of Juneyao Airlines, also joined the board of directors of the other airline respectively。

At subsidiary level，China Eastern Logistics, a subsidiary of China Eastern Airlines Group, introduced Legend Holdings in 2017、Prologis Investment、Debon Logistics、Greenland and other four investors，And implemented employee stock ownership，It is the first batch of mixed mixed reform in the country，The first civil aviation pilot company。At the annual work meeting，Disclosed by China Eastern Airlines，China Eastern Logistics expects to be listed on the A-share main board in the first half of 2020。

In addition，The equity diversification reform at the China Eastern Airlines Group level has also made important progress。Not long ago，Disclosure on the official website of China Guoxin Holdings Co., Ltd.，The company signed a letter of intent for cooperation on the equity reform project with China Eastern Airlines Group，Clear China Guoxin’s intention to invest in the equity diversification reform at the China Eastern Airlines Group level。

According to the timetable disclosed by China Eastern Airlines at the annual work meeting，China Eastern Airlines Group’s equity diversification reform will make substantial progress next year。

Before，China Southern Airlines Group announced the implementation of equity diversification reform at the end of July 2019，Introducing Guangdong Province at the group level、Guangzhou City、Guangdong Hengjian Investment Holdings Co., Ltd., the investment entity determined by Shenzhen City、Guangzhou Urban Construction Investment Group Co., Ltd.、Shenzhen Penghang Equity Investment Fund Partnership (Limited Partnership)’s capital increase is 10 billion yuan each，Total capital increase of 30 billion yuan。After，China Southern Airlines Group will inject part of its capital into the listed company China Southern Airlines (600029)。

To this，Civil aviation industry insider Lin Zhijie’s analysis to reporters，The equity diversification at the three major airline groups continues to advance，Introducing new state-owned shareholders，Conducive to reducing the asset-liability ratio，Complete the assessment requirements of the State-owned Assets Supervision and Administration Commission，If other state-owned shareholders are introduced in the future，There is also room for development in seeking business synergy。

At the annual work meeting，China Eastern Airlines revealed that the group’s asset-liability ratio in 2019 was 76.5%，Complete the annual asset-liability ratio target of the State-owned Assets Supervision and Administration Commission，Excluding the impact of joint-stock companies’ implementation of leasing standards，Asset-liability ratio decreased by 2.6 percentage points。

It’s worth noting，Listed airlines will be affected by the consolidation of operating leases in 2019，Debt ratio has generally increased，Therefore, it is expected that after the investment attraction at the China Eastern Airlines Group level is completed，Funds will also be injected into listed companies like China Southern Airlines。

*Source of this article: China Business News, author: Chen Shanshan, original title：《Beijing-Shanghai dual hub takes off, China Eastern Airlines speeds up investment in mixed-ownership reform》.