Shanghai Airlines, a subsidiary of China Eastern Airlines Co., Ltd. (00670), plans to transfer the Shanghai Airlines Hongqiao base to China Cargo Airlines for about 138 million yuan

According to Zhitong Finance App, China Eastern Airlines Co., Ltd. (00670) issued an announcement. On November 19, 2025, the 12th meeting of the company's board of directors deliberated and passed the “Proposal on Selling Land and Real Estate at the Shanghai Airlines Hongqiao Base on Suining Road”. The board of directors agreed that Shanghai Airlines would transfer its Shanghai Hongqiao base to China Cargo Airlines. The transfer price was determined based on the evaluation value filed by the relevant competent authorities. On January 5, 2026, Shanghai Airlines, a wholly-owned subsidiary of the company, signed a real estate sales contract with China Cargo Airlines. Shanghai Airlines transferred its Hongqiao base to China Cargo. The transaction price was approximately RMB 138 million.

After the transfer of Shanghai Airlines' Hongqiao base, the company expects to obtain revenue of approximately RMB 43.5 million. The company intends to use the proceeds of the transfer for the daily operation of the company. This transaction will help optimize the balance and liability structure of Shanghai Airlines and return capital to support the development of Shanghai Airlines's main business.