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Liu Shaoyong, board chairman of China Eastern, visited Jiangsu province on October 25 and discussed with its governor possible cooperation on developing the province's aviation industry.
According to an initial investment plan, China Eastern will raise the total capitalization of the Jiangsu branch from two billion to three billion yuan. The added capital will be employed in growing its aircraft fleet size, opening new flight routes and exploring the market.
The Jiangsu branch of China Eastern, with a registered capital of 880 million yuan, has total assets of 3.6 billion yuan. Its real operating assets totals seven billion yuan.
The branch company now has 22 aircraft and has opened some 70 international flight routes.
China Eastern aims to strengthen its transportation capacity in Jiangsu by adding investment in its branch company there. It will lift its aircraft count to 50 units in the next five years, and open new international flight routes and add flights in the province.
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