4-Jul-2011 11:40 AM
China Eastern Airlines' Yunnan branch receives licence
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.