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China's FedEx? EAL plans ambitious future

By Wang Ying in Shanghai | China Daily | Updated: 2017-10-13 08:01

As the first company in the aviation sector to launch mixed-ownership reform, Eastern Air Logistics Co, the freight unit under parent company China Eastern Air Holding Co, is now en route to going public, and to reach such a goal, management is exploring a new business mode instead of remaining a traditional aviation or logistics company.

In June, Shanghai-based China Eastern Air Holding Co sold a 55 percent stake in its wholly owned Eastern Air Logistics to external investors and its core employees, in a bid to lower EAL's debt ratio and enhance its market competitiveness with the help of the newly introduced partners.

After the sharehold restructuring, Legend Holdings Corp holds 25 percent, Global Logistic Properties Ltd holds 10 percent, courier company China Deppon Logistics Co Ltd gains 5 percent and Greenland Financial Holdings Group has 5 percent. The remaining 10 percent was sold to EAL's core employees.

China's FedEx? EAL plans ambitious future

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