CHINA EASTERN AIRLINES CORP LTD

CIK:0001030475|SEC Filings

Consolidated Statements of Profit or Loss and Other Comprehensive Income - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Profit or loss [abstract]
Revenue	¥ 67,127	¥ 58,727	¥ 120,986
Other operating income and gains	6,079	5,698	7,202
Operating expenses
Aircraft fuel	(20,593)	(13,840)	(34,191)
Take-off and landing charges	(10,251)	(9,331)	(16,457)
Depreciation and amortisation	(22,718)	(22,255)	(22,080)
Wages, salaries and benefits	(21,061)	(20,827)	(24,152)
Aircraft maintenance	(3,783)	(3,451)	(3,380)
Food and beverages	(1,655)	(1,589)	(3,667)
Low value and short-term lease rentals	(383)	(358)	(631)
Selling and marketing expenses	(1,128)	(1,570)	(4,134)
Civil aviation development fund	(852)	0	(1,831)
Ground services and other expenses	(532)	(872)	(2,476)
Impairment charges	(22)	(184)	(4)
Impairment losses on financial assets, net	(28)	(32)	(16)
Fair value changes of financial asset at fair value through profit or loss	(11)	(26)	25
Indirect operating expenses	(3,707)	(3,930)	(5,113)
Total operating expenses	(86,724)	(78,265)	(118,107)
Operating (loss)/profit	(13,518)	(13,840)	10,081
Share of result of associates	(97)	(82)	265
Share of result of joint ventures	(44)	(13)	17
Finance income	1,958	2,660	96
Finance costs	(5,812)	(5,213)	(6,160)
(Loss)/profit before income tax	(17,513)	(16,488)	4,299
Income tax credit /(expense)	4,229	3,927	(819)
(Loss)/profit for the year	(13,284)	(12,561)	3,480
(Loss)/profit is attributable to:
Equity holders of the Company	(12,214)	(11,836)	3,192
Non-controlling interests	(1,070)	(725)	288
(Loss)/profit for the year	¥ (13,284)	¥ (12,561)	¥ 3,480
(Loss)/earnings per share attributable to the equity holders of the Company:
- Basic and diluted (expressed in RMB per share)	¥ (0.73)	¥ (0.72)	¥ 0.21
Items that may be subsequently reclassified to profit or loss
- Effective portion of changes in fair value of hedging instruments arising during the year	¥ 221	¥ 153	¥ 40
- Reclassification adjustments for losses/(gains) included in the consolidated statement of profit or loss	(525)	57	(186)
- Income tax effect	76	(52)	36
Items that may not be subsequently reclassified to profit or loss
- Fair value changes of equity investments designated at fair value through other comprehensive (loss)/income, net of tax	(247)	(209)	16
- Share of other comprehensive (loss)/income of an associate, net of tax	(7)	2	7
- Actuarial (losses)/gains on the post-retirement benefit obligations, net of tax	(84)	(61)	40
Other comprehensive (loss)/income for the year, net of tax	(566)	(110)	(47)
Total comprehensive (loss)/income for the year	(13,850)	(12,671)	3,433
Total comprehensive (loss)/income attributable to:
Equity holders of the Company	(12,765)	(11,940)	3,141
Non-controlling interests	(1,085)	(731)	292
Total comprehensive (loss)/income for the year	¥ (13,850)	¥ (12,671)	¥ 3,433

Consolidated Statements of Cash Flows - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flow from operating activities
Cash generated from operations	¥ 5,828	¥ 1,480	¥ 30,137
Income tax paid	(136)	(269)	(1,165)
Net cash generated from operating activities	5,692	1,211	28,972
Cash flow from investing activities
Additions to property, plant and equipment and other non-current assets	(10,807)	(7,247)	(7,589)
Investments in associates and joint ventures	(140)		(110)
Net proceeds/(payments) from disposal of a subsidiary	117		(90)
Proceeds from disposal of property, plant and equipment	3,097	894	157
Proceeds from novation of purchase rights and others	8,793		2,366
Proceeds from disposal of intangible assets and land use rights	752	5	2
Proceeds from disposal of an equity investment	288		5
Dividends received	105	100	241
Settlement relating to derivative financial instruments	0	(28)	104
Loan to a joint venture	0	(7)
Proceeds from repayment of loans to a joint venture	4	0	15
Net cash generated from/(used in) investing activities	2,155	(6,283)	(4,899)
Cash flows from financing activities
Proceeds from issue of shares	10,820		9,442
Capital injection by non-controlling interests in a subsidiary	283
Proceeds from drarw-down of short-term bank loans	55,954	28,883	6,986
Proceeds from drarw-down of long-term bank loans	20,279	10,823	300
Proceeds from issuance of short-term debentures	39,000	77,200	39,000
Proceeds from issuance of long-term debentures and bonds	11,386	1,998	7,755
Proceeds from sales-leaseback of aircraft	686
Repayments of short-term bank loans	(40,329)	(9,130)	(12,868)
Repayments of long-term bank loans	(4,490)	(1,948)	(4,033)
Repayments of short-term debentures	(65,500)	(69,200)	(35,000)
Repayments of long-term debentures and bonds	(8,523)	(2,453)	(5,567)
Repayments of principal of lease liabilities	(15,725)	(18,439)	(23,895)
Interest paid	(6,307)	(5,482)	(5,494)
Settlement relating to derivative financial instruments	(60)	(4)	82
Dividends paid to Company's shareholders	0	(819)	0
Dividends paid to non-controlling interests of subsidiaries	0	(3)	(83)
Net cash (used in)/generated from financing activities	(2,526)	11,426	(23,375)
Net increase in cash and cash equivalents	5,321	6,354	698
Cash and cash equivalents at beginning of the year	7,651	1,350	646
Effects of exchange rate changes on cash and cash equivalents	(22)	(53)	6
Cash and cash equivalents at end of the year	¥ 12,950	¥ 7,651	¥ 1,350

Consolidated Statements of Financial Position - CNY (¥) ¥ in Millions	Dec. 31, 2021	Dec. 31, 2020
Non-current assets
Property, plant and equipment	¥ 93,242	¥ 101,043
Investment properties	118	166
Right-of-use assets	126,875	118,210
Intangible assets	11,713	11,718
Advanced payments on acquisition of aircraft	12,165	17,240
Investments in associates	1,777	1,793
Investments in joint ventures	484	594
Equity investments designed at fair value through other comprehensive income	457	995
Derivative financial instruments	0	37
Deferred tax assets	9,580	5,011
Other non-current assets	4,469	5,345
Non-current assets	260,880	262,152
Current assets
Flight equipment spare parts	1,799	2,054
Trade receivables	974	1,124
Prepayments and other receivables	12,089	11,198
Financial assets at fair value through profit or loss	84	95
Derivative financial instruments	0	362
Restricted bank deposits	12	12
Cash and cash equivalents	12,950	7,651
Assets classified as held for sale	2	2
Current assets	27,910	22,498
Current liabilities
Trade and bills payables	2,454	3,220
Other payables and accruals	18,745	21,619
Contract liabilities	3,287	3,671
Current portion of borrowings	44,999	57,150
Current portion of lease liabilities	16,350	14,073
Income tax payable	55	48
Current portion of provision for lease return costs for aircraft and engines	0	24
Derivative financial instruments	1	3
Current liabilities	85,891	99,808
Net current liabilities	(57,981)	(77,310)
Total assets less current liabilities	202,899	184,842
Non-current liabilities
Borrowings	50,792	30,745
Lease liabilities	82,126	82,178
Provision for lease return costs for aircraft and engines	7,270	6,966
Contract liabilities	899	1,320
Derivative financial instruments	45	138
Post-retirement benefit obligations	2,367	2,373
Other long-term liabilities	2,248	1,955
Deferred tax liabilities	0	13
Non-current liabilities	145,747	125,688
Net assets	57,152	59,154
Equity attributable to equity holder of the Company
- Share capital	18,874	16,379
- Reserves	34,741	39,870
Equity attributable to the equity holders of the Company	53,615	56,249
Non-controlling interests	3,537	2,905
Total equity	¥ 57,152	¥ 59,154