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China Eastern Airlines' Yunnan branch receives licence

4-Jul-2011 11:40 AM

China Eastern Airlines Yunnan Co Ltd received (01-Jul-2011) its public air carriers licence from CAAC, after receiving approval from the aviation authority in Dec-2010. Details include:

  • Name: China Eastern Airlines Yunnan Co Ltd;
  • Airport base: Kunming Wujiaba International Airport;
  • Business type: Limited liability company;
  • Registered capital: CNY3661.5 million (USD563 million);
    • China Eastern Airlines: CNY2380 million (356 million) for a 65% stake;
    • Yunnan Province State-owned Assets Supervision and Administration Commission: CNY1282 million (USD197 million) for the remaining 35% stake;
  • Business scope: Domestic (including Hong Kong and Macau) and international passenger and cargo operations;
  • Application status:
    • Signed rental contracts and office space with China Eastern Airlines;
    • Approved to receive 30 aircraft from China Eastern;
    • Signed airport base services agreement with Yunnan Airport Group;
    • Received approval from Airworthiness Division for its corporate logo and aircraft livery;
    • China Eastern has agreed to provide 336 air crew, 510 maintenance personnel, 62 dispatchers, 315 transport personnel, 184 crew members and 121 security staff;
  • Executives:
    • General Manager: Shi Fukang;
    • Vice President Operations: Ma Zhekun;
    • Vice President Fleet operation: Li Junming.

China Eastern will fund the venture with CNY700 million in cash and CNY1680 million in aviation-related assets. The Yunnan government will provide CNY1030 million worth in land and CNY254 million in cash for the venture.