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中國東方航空股份：海外監管公告 中國東方航空股份有限公司主體與相關債項2024年度跟蹤評級報告

CHINA EAST AIR: An announcement has just been published by the issuer in the Chinese section of this website, a corresponding version of which may or may not be published in this section

Hong Kong Stock Exchange ·  Apr 29 09:40
Summary by Moomoo AI
大公國際資信評估有限公司對中國東方航空股份有限公司及其相關債項進行了2024年度的跟踪評級，結果顯示中國東方航空的主體信用等級維持在AAA級，展望維持穩定。該評級反映了公司在航空運輸市場的顯著地位，以及持續獲得政府和股東的支持。儘管2023年公司繼續虧損，但毛利率和營運性現金流有所改善，且有較高的政府補貼收入。公司面臨一定的短期償債壓力，但長期借款和應付債券規模有所下降。此外，公司的資本結構得到了股東的支持，包括向控股股東東航集團發行200億元人民幣的永續債。東航集團為“16東航01”和“16東航02”提供全額無條件不可撤銷連帶責任保證擔保，進一步增強了債務的信用質量。
大公國際資信評估有限公司對中國東方航空股份有限公司及其相關債項進行了2024年度的跟踪評級，結果顯示中國東方航空的主體信用等級維持在AAA級，展望維持穩定。該評級反映了公司在航空運輸市場的顯著地位，以及持續獲得政府和股東的支持。儘管2023年公司繼續虧損，但毛利率和營運性現金流有所改善，且有較高的政府補貼收入。公司面臨一定的短期償債壓力，但長期借款和應付債券規模有所下降。此外，公司的資本結構得到了股東的支持，包括向控股股東東航集團發行200億元人民幣的永續債。東航集團為“16東航01”和“16東航02”提供全額無條件不可撤銷連帶責任保證擔保，進一步增強了債務的信用質量。
DADONG INTERNATIONAL CREDIT ASSESSMENT LIMITED HAS CONDUCTED A TRACKING RATING OF CHINA EASTERN AIRLINES CO., LTD. AND ITS RELATED DEBT FOR 2024. THE RESULTS SHOW THAT CHINA ORIENTAL AIRLINES' CORE CREDIT RATING REMAINS AT AAA AND THE OUTLOOK REMAINS STABLE. The rating reflects the company's significant position in the air transport market and its continued support from governments and shareholders. Despite the company's continued losses in 2023, gross margins and operating cash flow improved, with higher government subsidy income. Companies face some short-term solvency pressure, but the size of long-term borrowing and subordinated bonds has decreased. In addition, the company's capital structure was supported by shareholders, including the issuance of RMB200 billion of perpetual debt to the holding shareholder Aviation Group. Eastern Airlines Group provides full unconditional irrevocable guarantee guarantees to 16 East 01 and 16 East 02, further enhancing the credit quality of its debt.
DADONG INTERNATIONAL CREDIT ASSESSMENT LIMITED HAS CONDUCTED A TRACKING RATING OF CHINA EASTERN AIRLINES CO., LTD. AND ITS RELATED DEBT FOR 2024. THE RESULTS SHOW THAT CHINA ORIENTAL AIRLINES' CORE CREDIT RATING REMAINS AT AAA AND THE OUTLOOK REMAINS STABLE. The rating reflects the company's significant position in the air transport market and its continued support from governments and shareholders. Despite the company's continued losses in 2023, gross margins and operating cash flow improved, with higher government subsidy income. Companies face some short-term solvency pressure, but the size of long-term borrowing and subordinated bonds has decreased. In addition, the company's capital structure was supported by shareholders, including the issuance of RMB200 billion of perpetual debt to the holding shareholder Aviation Group. Eastern Airlines Group provides full unconditional irrevocable guarantee guarantees to 16 East 01 and 16 East 02, further enhancing the credit quality of its debt.
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