Edgar Filing: CHINA EASTERN AIRLINES CORP LTD

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of October 2011

Commission File Number: 001-14550

China Eastern Airlines Corporation Limited

(Translation of Registrant’s name into English)

Board Secretariat’s Office

Kong Gang San Lu, Number 88

Shanghai, China 200335

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: x Form 20-F ¨ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: ¨ Yes x No

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a

Certain statements contained in this announcement may be regarded as "forward-looking statements" within the meaning of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this announcement represent the Company's views as of the date of this announcement. While the Company anticipates that subsequent events and developments may cause the Company's views to change, the Company specifically disclaims any obligation to update these forward-looking statements, unless required by applicable laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this announcement.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(A joint stock limited company incorporated in the People’s Republic of China with limited liability)

(Stock code: 00670)

THIRD QUARTERLY REPORT 2011

This announcement is made by the Company pursuant to the disclosure requirement under Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The financial statements of the Company for the third quarter of 2011 were not audited, and were prepared in accordance with the PRC Accounting Regulations.

1.	IMPORTANT NOTICE

This announcement is made by China Eastern Airlines Corporation Limited (the “Company”) pursuant to the disclosure requirement under Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (which requires any issuer listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) whose securities are also listed on other stock exchange(s) to simultaneously inform the Stock Exchange of any information released to any of such other exchange(s) and to ensure that such information is released to the market in Hong Kong at the same time as it is released to the other market(s)). At the request of the Shanghai Stock Exchange, a similar announcement of the even date is being made by the Company in Shanghai pursuant to the relevant provisions of the Shanghai listing rules and regulations.

This quarterly report was prepared in accordance with the regulations as prescribed by the China Securities Regulatory Commission (the “CSRC”) in relation to disclosure of information in quarterly reports for listed companies, and is published simultaneously in Shanghai and Hong Kong. The financial statements of the Company for the third quarter of 2011 were not audited, and were prepared in accordance with the PRC Accounting Regulations.

The board of directors (the “Board”) and the supervisory committee of the Company, and its directors, supervisors and senior management hereby confirm that the information set out in this report does not contain any false information, misleading statement or material omission, and accept joint and several responsibility for the truthfulness, accuracy and completeness of the contents of this report.

– 1 –

All directors of the Company attended the meeting of the Board.

Name of person-in-charge of the Company:	Liu Shaoyong
Name of officer-in-charge of accounting:	Ma Xulun
Name of officer-in-charge of the accounting department (accounting officer):	Wu Yongliang

Liu Shaoyong, the person-in-charge of the Company, Ma Xulun, the officer-in-charge of accounting of the Company, and Wu Yongliang, the officer-in-charge of the accounting department (accounting officer) of the Company, hereby confirm that the financial statements forming part of this quarterly report are true and complete.

2.	BASIC PARTICULARS OF THE COMPANY

2.1

Main accounting data and financial indicators

Currency: RMB

Increase/

decrease as at

the end of the

As at

reporting period

the end of

As at

compared with

the reporting

the end of

period

last year

(%)

Total assets (RMB’000)

112,431,086

100,810,117

11.53

Owners’ equity (or shareholders’ equity) (RMB’000)

21,181,390

15,577,109

35.98

Net assets per share attributable to the shareholders of listed company (RMB per share)

1.8784

1.3814

35.98

	From the		Increase/
	beginning		decrease
	of the year to		compared
	the end of the		with the
	reporting period		same period
	(Jan to Sept)		last year
			(%)

Net cash flow generated from operating activities (RMB’000)		12,047,206		21.42
Net cash flow generated from operating activities per share (RMB per share)		1.0683		19.60

– 2 –

Increase/

From the

decrease for

beginning of

the reporting

the year to

period

the end of

compared

Reporting

the reporting

with the

period

same period

(July to Sept)

(Jan to Sept)

last year

(%)

Net profit attributable to shareholders of listed company (RMB’000)

3,308,042

5,759,772

4.85

Basic earnings per share (RMB per share)

0.2934

0.5108

4.85

Basic earnings per share after deducting non-recurring profit and loss (RMB per share)

0.2906

0.5007

1.61

Diluted earnings per share (RMB per share)

0.2934

0.5108

4.85

Weighted average return on equity (%)

16.83

31.21

Decrease by

6.3 percentage

points

Weighted average return on equity after deducting non-recurring profit and loss (%)

16.68

30.69

Decrease by

6.97 percentage

points

After deducting non-recurring profit and loss and relevant amounts:

	Unit: ’000
	Currency: RMB

	Amount from
	the beginning of
	the year to
	the end of the
	reporting period
Item	(Jan to Sept)

Gains or losses from disposal of non-current assets		-3,054
Non-operating incomes and expenses other than the above		118,402
Effect on income tax		-1,500
Effect on minority interests (net of tax)		-698

Total		113,150

– 3 –

2.2

The total number of the Company’s shareholders and the shareholdings of the10 largest holders of shares not subject to selling moratorium as at the end of the reporting period

	Unit: Shares

The total number of the Company’s shareholders as at the end of the reporting period		290,534

Shareholding of the 10 largest holders of circulating shares not subject to selling moratorium

	Number of
	circulating
	shares not
	subject to selling
	moratorium held
	at the end of
Name of shareholders (in full)	the period		Class

HKSCC NOMINEES LIMITED (including CES Global Holdings (Hong Kong) Limited)		2,040,333,299	Overseas listed foreign shares
Shanghai Alliance Investment Limited (上海聯和投資有限公司)		427,085,429	RMB ordinary shares
China National Aviation Fuel Holding Co. (中國航空油料集團公司)		421,052,632	RMB ordinary shares
Aerospace Capital Holding Co. Ltd. (航天投資控股有限公司)		99,088,580	RMB ordinary shares
Sinotrans Air Transportation Development Co. Ltd. (中外運空運發展股份有限公司)		83,157,894	RMB ordinary shares
Jin Jiang International Holdings Company Limited (錦江國際（集團）有限公司)		54,400,000	RMB ordinary shares
Bank of China Group Investment Limited (中銀集團投資有限公司)		21,997,755	RMB ordinary shares
中國建設銀行－華夏紅利混合型開放式證券投資基金		20,239,403	RMB ordinary shares
泰康人壽保險股份有限公司－分紅－個人分紅－019L－FH002滬		18,877,904	RMB ordinary shares
上海輕工業對外經濟技術合作有限公司		18,574,343	RMB ordinary shares

– 4 –

3.	IMPORTANT MATTERS

3.1

The details of and reasons for the substantial changes in main items of financial statements and financial indicators of the Company

üApplicable o Not applicable

Items	Change		Reasons for change
	(%)

Monetary capital		63.46	Primarily due to the increase in sale revenue of the company.

Prepayments		54.36	Primarily due to the increase in prepaid engineering monies and equipment procurement monies of the Company.

Construction in progress		51.28	Primarily due to the increase in the Company’s prepayments for aircraft.

Notes payable		-46.55	Primarily due to the reduction in the use of notes payable.

Account collected in advance		33.58	Primarily due to the increase in sale revenue.

Other payables		38.98	Primarily due to the increase in fuel surcharges received as agent and the deposit in respect of ticketing agency.

Finance expenses		-178.64	Primarily due to the substantial increase in exchange gain arising from the appreciation of Renminbi.

Gain and losses arising from change in fair value		-106.37	Primarily due to the decrease in the exposure volume of aviation fuel.

Income tax expenses		172.58	Primarily due to the increase in total profit.

Cash paid to and on behalf of staff		30.34	Primarily due to the increase in labour cost arising from the increase in production volume.

Net cash recovered from the disposal of fixed assets, intangible assets and other long-term assets		-67.37	Primarily due to the disposal of aircraft in 2010.

Cash received from investment		122.19	Primarily due to the increase in capital of subsidiaries during the reporting period.

Cash paid for other fund raising activities		-38.41	Primarily due to the decrease in payment of pledged deposits during the period.

– 5 –

3.2

Analysis of the progress of other significant events and their effects and proposed solutions

o Applicable ü Not applicable

3.3

The status of implementation of the matters undertaken by the Company, shareholders and the ultimate controller

üApplicable o Not applicable

For the related undertakings, please refer to the status of implementation of the matters undertaken by the Company in full text of the Company’s interim report 2011 which was released on 29 August 2011 on the respective websites of the Shanghai Stock Exchange and of the Company. There are no additional undertakings during the reporting period.

3.4

Warning of and reasons for any expected accumulated losses from the beginning of the year to the end of the following reporting period or substantial changes in profitability compared to the same period last year

o Applicable ü Not applicable

3.5

Implementation of cash dividend policy during the reporting period

There is no cash dividend during the reporting period.

By order of the Board

CHINA EASTERN AIRLINES CORPORATION LIMITED

Luo Zhuping

Director and Company Secretary

The directors of the Company as at the date of this announcement are:

Liu Shaoyong	(Chairman)
Li Jun	(Vice Chairman)
Ma Xulun	(Director, President)
Li Yangmin	(Director, Vice President)
Luo Zhuping	(Director, Company Secretary)
Sandy Ke-Yaw Liu	(Independent non-executive Director)
Wu Xiaogen	(Independent non-executive Director)
Ji Weidong	(Independent non-executive Director)
Shao Ruiqing	(Independent non-executive Director)

Shanghai, the People’s Republic of China

30 October 2011

– 6 –

4.	APPENDICES

4.1

Consolidated Balance Sheet

30 September 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

	Balance
	at the end		Balance at
	of the reporting		the beginning
Item	period		of the year

Current assets:
Monetary capital		8,217,551		5,027,358
Settlement reserves payable
Deposits with banks and other financial institutions
Derivative financial assets		17,971		71,051
Notes receivable
Trade receivables		2,652,925		2,127,446
Prepayments		1,102,559		714,274
Premiums receivable
Receivables from reinsurers
Reinsurance deposits receivable
Interest receivables		12,359		16,229
Dividends receivable		6,761		6,633
Other receivables		2,964,663		2,470,738
Buying back the sale of financial assets
Inventory		1,472,608		1,286,898
Non-current assets due within one year
Other current assets

Total current assets		16,447,397		11,720,627

– 7 –

4.1

Consolidated Balance Sheet (Cont'd)

30 September 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

	Balance
	at the end		Balance at
	of the reporting		the beginning
Item	period		of the year

Non-current assets:
Entrusted loans and advances
Financial assets available for sale		1,797		5,469
Held-to-maturity investments		1,000,000
Long-term receivables
Long-term equity investment		1,490,657		1,450,375
Properties held for investment
Fixed assets		70,047,793		68,109,022
Construction in progress		11,190,424		7,397,241
Construction materials
Disposal of fixed assets
Biological assets for production
Oil and gas assets
Intangible assets		1,811,195		1,822,043
Development expenses
Goodwill		8,509,030		8,509,030
Long-term deferred expenses		1,177,748		1,141,249
Deferred income tax assets		21,982		44,195
Other non-current assets		733,063		610,866

Total non-current assets		95,983,689		89,089,490

Total assets		112,431,086		100,810,117

– 8 –

4.1

Consolidated Balance Sheet (Cont'd)

30 September 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

	Balance
	at the end		Balance at
	of the reporting		the beginning
Item	period		of the year

Current liabilities:
Short-term borrowings		11,449,140		11,193,078
Borrowing from Central Bank
Deposits from customers and other banks
Advances from banks and other financial institutions
Derivative financial liabilities		380,398		316,407
Notes payable		788,577		1,475,458
Trade payables		11,887,850		9,469,215
Account collected in advance		3,992,033		2,988,527
Financial assets sold under agreements to repurchase
Handling charges and commissions payable
Staff remuneration payable		2,586,452		3,205,957
Taxes payable		1,889,842		1,519,385
Interest payable		147,388		157,984
Dividends payable		1,153
Other payables		3,092,025		2,224,869
Amounts due to reinsurers
Insurance deposits payable
Securities trading agency fees
Securities underwriting fees
Non-current liabilities due within one year		8,815,073		6,925,473
Other current liabilities

Total current liabilities		45,029,931		39,476,353

– 9 –

4.1

Consolidated Balance Sheet (Cont'd)

30 September 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

	Balance
	at the end		Balance at
	of the reporting		the beginning
Item	period		of the year

Non-current liabilities:
Long-term borrowings		20,908,752		23,354,997
Bonds payable
Long-term payables		19,649,330		20,291,474
Bonds payable		2,500,000
Special items payable		48,133		113,120
Expected liabilities
Deferred income tax liabilities		29,601		51,814
Other non-current liabilities		1,081,430		946,182

Total non-current liabilities		44,217,246		44,757,587

Total liabilities		89,247,177		84,233,940

Owners’ equity (or shareholders’ equity):
Paid-up capital (or share capital)		11,276,539		11,276,539
Capital reserves		15,497,529		15,653,020
Less: Treasury shares
Special reserves
Surplus reserves
Provision for ordinary risks
Undistributed Profits		-5,592,678		-11,352,450
Exchange difference in foreign currency statements
Total equity attributable to equity holders of parent company		21,181,390		15,577,109
Minority interests		2,002,519		999,068

Total equity holders’ equity		23,183,909		16,576,177

Total liabilities and equity holders’ equity		112,431,086		100,810,117

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

Officer-in-charge of the accounting department: Wu Yongliang

– 10 –

4.1

Balance Sheet of Parent Company

30 September 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

	Balance
	at the end		Balance at
	of the reporting		the beginning
Item	period		of the year

Current assets:
Monetary capital		1,898,734		2,407,347
Derivative financial assets		17,971		71,051
Notes receivable
Trade receivables		1,798,515		2,545,900
Prepayments		313,534		340,451
Interest receivables		12,827		15,754
Dividends receivable		6,633		6,633
Other receivables		4,046,619		3,674,505
Inventory		1,201,792		1,033,280
Non-current assets due within one year
Other current assets

Total current assets		9,296,625		10,094,921

Non-current assets:
Financial assets available for sale				3,672
Held-to-maturity investments		1,000,000
Long-term receivables
Long-term equity investment		8,747,823		6,010,170
Properties held for investment
Fixed assets		49,043,425		51,291,911
Construction in progress		10,178,984		7,049,151
Construction materials
Disposal of fixed assets
Biological assets for production
Oil and gas assets
Intangible assets		759,058		751,373
Development expenses
Goodwill		8,509,030		8,509,030
Long-term deferred expenses		717,921		681,096
Deferred income tax assets
Other non-current assets		267,069		233,703
Total non-current assets		79,223,310		74,530,106

Total assets		88,519,935		84,625,027

– 11 –

4.1

Balance Sheet of Parent Company (Cont'd)

30 September 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

Item	Balance at the end of the reporting period		Balance at the beginning of the year

Current liabilities:
Short-term borrowings		9,603,070		9,243,291
Derivative financial liabilities		380,398		316,407
Notes payable		788,577		991,637
Trade payables		8,593,068		7,576,277
Account collected in advance		3,102,787		2,298,086
Staff remuneration payable		1,859,076		2,700,544
Taxes payable		1,107,376		910,974
Interest payable		102,014		130,105
Dividends payable
Other payables		2,477,744		2,369,121
Non-current liabilities due within one year		6,861,686		5,330,951
Other current liabilities

Total current liabilities		34,875,796		31,867,393

Non-current liabilities:
Long-term borrowings		14,396,421		18,241,540
Bonds payable
Long-term payables		15,700,810		16,114,346
Special items payable		29,297		91,484
Expected liabilities
Deferred income tax liabilities
Other non-current liabilities		973,549		843,934

Total non-current liabilities		31,100,077		35,291,304

Total liabilities		65,975,873		67,158,697

– 12 –

4.1

Balance Sheet of Parent Company (Cont'd)

30 September 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

	Balance
	at the end		Balance at
	of the reporting		the beginning
Item	period		of the year

Owners’ equity (or shareholders’ equity):
Paid-up capital (or share capital)		11,276,539		11,276,539
Capital reserves		15,429,005		15,584,871
Less: Treasury shares
Special reserves
Surplus reserves
Provision for ordinary risks
Undistributed profits		-4,161,482		-9,395,080

Total owners’ equity (or shareholders’equity)		22,544,062		17,466,330

Total liabilities and owners’ equity (or shareholders’ equity)		88,519,935		84,625,027

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

Officer-in-charge of the accounting department: Wu Yongliang

– 13 –

4.2

Consolidated Income Statement

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

	Item	Amount for the reporting period (July to Sept)		Amount for the corresponding period of last year (July to Sept)		Amount from the beginning of the year to the end of the reporting period (Jan to Sept)		Amount from the beginning of last year to the end of the reporting period of last year (Jan to Sept)

1.	Total revenue		24,451,190		21,829,791		63,233,344		55,465,964
	Of which: Revenue		24,451,190		21,829,791		63,233,344		55,465,964
	Interest income
	Premiums earned
	Handling charges and commission income

2.	Total operating costs		21,270,200		18,731,581		58,072,148		50,951,116
	Of which: Operating costs		18,907,235		16,266,018		51,301,043		43,845,461
	Interest expenses
	Handling charges and commission expenses
	Payments on surrenders
	Net compensation expenses
	Net provision for insurance contract
	Insurance policy dividend expenses
	Reinsurance expenses
	Business taxes and surcharges		554,063		434,990		1,330,403		1,096,108
	Selling expenses		1,498,882		1,456,476		4,045,580		3,757,806
	General and administrative expenses		614,972		681,031		1,740,259		1,644,572
	Finance expenses		-309,658		-111,133		-385,063		526,045
	Assets impairment loss		4,706		4,199		39,926		81,124
	Add: Gains from changes in fair value (loss indicated by “-”)		-14,278		224,200		71,218		448,726
	Investment gains (loss indicated by “-”)		32,972		31,837		96,444		57,463
	Of which: Investment gains on associated companies and joint ventures
	Exchange gains (loss indicated by “-”)

– 14 –

4.2

Consolidated Income Statement (Cont'd)

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

								Amount
						Amount		from the
						from the		beginning of
				Amount		beginning of		last year to
				for the		the year to		the end of
		Amount for		corresponding		the end of		the reporting
		the reporting		period of		the reporting		period
		period		last year		period		of last year
	Item	(July to Sept)		(July to Sept)		(Jan to Sept)		(Jan to Sept)

3.	Operating profit (loss indicated by “-”)		3,199,684		3,354,247		5,328,858		5,021,037
	Add: Non-operating income		259,327		101,978		785,468		611,535
	Less: Non-operating expenses		3,438		113,773		15,919		122,483
	Of which: Loss on disposal of non-current assets

4.	Total profits (total losses indicated by “-”)		3,455,573		3,342,452		6,098,407		5,510,089
	Less: Income tax expenses		63,213		23,191		185,286		71,478

5.	Net profit (net loss indicated by “-”)		3,392,360		3,319,261		5,913,121		5,438,611
	Net profit attributable to equity holders of parent company		3,308,042		3,154,877		5,759,772		5,099,067
	Minority interests		84,318		164,384		153,349		339,544

6.	Earnings per share:
	(1) Basic earnings per share		0.2934		0.2798		0.5108		0.4591
	(2) Diluted earnings per share		0.2934		0.2798		0.5108		0.4591

7.	Other comprehensive income

8.	Total comprehensive income
	Total comprehensive income attributable to equity holders of parent company
	Total comprehensive income attributable to minority interests

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

Officer-in-charge of the accounting department: Wu Yongliang

– 15 –

4.2

Income Statement of Parent Company

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

								Amount
						Amount		from the
						from the		beginning of
						beginning of		last year to
				Amount for the		the year to		the end of
		Amount for		corresponding		the end of		the reporting
		the reporting		period of		the reporting		period
		period		last year		period		of last year
	Item	(July to Sept)		(July to Sept)		(Jan to Sept)		(Jan to Sept)

1.	Revenue		13,930,494		13,437,445		38,363,130		33,264,863
	Less: Operating costs		10,179,425		9,954,384		30,457,133		26,491,206
	Business taxes and surcharges		320,532		247,897		779,964		621,566
	Selling expenses		1,030,233		963,259		2,732,601		2,370,991
	General and administrative expenses		325,211		427,835		980,435		975,066
	Finance expenses		-301,192		-95,767		-358,082		289,034
	Assets impairment loss		4,422		0		39,614		73,166
	Add: Gains from changes in fair value (loss indicated by “-”)		-14,278		219,876		71,218		439,765
	Investment gains (loss indicated by “-”)		23,188		101,932		450,926		122,358
	Of which: Investment gains on associated companies and joint ventures

2.	Operating profit (loss indicated by “-”)		2,380,773		2,261,645		4,253,609		3,005,957
	Add: Non-operating income		557,244		70,825		993,167		529,565
	Less: Non-operating expenses		2,411		8,460		13,178		15,263
	Of which: Loss on disposal of non-current assets

3.	Total profits (total losses indicated by “-”)		2,935,606		2,324,010		5,233,598		3,520,259
	Less: Income tax expenses

4.	Net profit (net loss indicated by “-”)		2,935,606		2,324,010		5,233,598		3,520,259

5.	Earnings per share:
	(1) Basic earnings per share
	(2) Diluted earnings per share

6.	Other comprehensive income

7.	Total comprehensive income

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

Officer-in-charge of the accounting department: Wu Yongliang

– 16 –

4.3

Consolidated cash flow statement

Jan to Sept 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

				Amount from
		Amount from		the beginning of
		the beginning of		last year to
		the year to		the end of the
		the end of the		reporting period
		reporting period		of last year
	Item	(Jan to Sept)		(Jan to Sept)

1.	Cash flow from operating activities
	Cash received from sales of goods and provision of labour services		64,520,118		55,987,395
	Net increase in customer deposits and deposits with banks
	Net increase in loans from Central Bank
	Net increase in advances from other financial institutions
	Cash received from original insurance policy premium
	Net cash received from reinsurance operations
	Net increase in policyholders’ deposits and investment
	Net increase in disposal of derivative financial assets
	Interests, handling charges and commissions received
	Net increase in advances from banks and other financial institutions
	Net increase in repurchase of business funds
	Refund of taxes received
	Other cash received relating to operating activities		730,653		795,246

	Sub-total of operating cash inflow		65,250,771		56,782,641

	Cash paid for purchase of goods and receiving of labour services		41,562,268		37,650,195
	Net increase in customers deposits and advances
	Net increase in deposits with Central Bank and banks
	Compensation paid pursuant to original insurance contract and settled in cash
	Interest, handling charges and commission paid by cash
	Insurance policy dividend paid by cash
	Cash paid to and on behalf of staff		8,184,478		6,279,353
	Taxes paid		2,634,233		2,190,511
	Other cash paid for operating activities		822,586		741,028

	Sub-total of cash outflow from operating activities		53,203,565		46,861,087

	Net cash flows from operating activities		12,047,206		9,921,554

– 17 –

4.3

Consolidated cash flow statement (Cont'd)

Jan to Sept 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

				Amount from
		Amount from		the beginning of
		the beginning of		last year to
		the year to		the end of the
		the end of the		reporting period
		reporting period		of last year
	Item	(Jan to Sept)		(Jan to Sept)

2.	Cash flow from investment activities:
	Proceeds from the absorption of Shanghai Airlines				1,167,565
	Cash received from disposal of investment		56,298
	Proceeds from the absorption of Great Wall Airlines		210,062
	Investment income in cash		17,206		20,387
	Net cash recovered from disposals of fixed assets, intangible assets and other long- term assets		132,543		406,229
	Net cash received from disposal of subsidiaries and other operating units
	Other cash received from investing activities		266,496		387,879

	Sub-total of cash inflow from investing activities		682,605		1,982,060

	Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long term assets		9,245,718		10,182,792
	Investments paid in cash		1,277,376
	Net increase in pledged loans
	Net cash received from subsidiaries and other business units
	Other cash paid for investing activities		266,496		254,456

	Sub-total of cash outflow from investment activities		10,789,590		10,437,248

	Net cash flow from investment activities		-10,106,985		-8,455,188

– 18 –

4.3

Consolidated cash flow statement (Cont'd)

Jan to Sept 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

				Amount from
		Amount from		the beginning of
		the beginning of		last year to
		the year to		the end of the
		the end of the		reporting period
		reporting period		of last year
	Item	(Jan to Sept)		(Jan to Sept)

3.	Cash flow from fund raising activities:
	Proceeds received in cash from investments		1,004,500		452,100
	Of which: Cash received by subsidiaries from investment by minority shareholders
	Cash received from borrowings		17,962,131		23,336,070
	Proceeds received in cash from bonds issuance		2,500,000
	Other proceeds in cash from fund raising activities		1,015,051		1,272,405

	Sub-total of cash inflow from fund raising activities		22,481,682		25,060,575

	Cash paid for repayment of indebtedness		17,357,969		19,248,234
	Cash repayments for distribution of dividends, profits or payments of interest expense		1,433,606		1,306,111
	Of which: Dividend and profit paid by subsidiaries to minority shareholders
	Other cash paid for fund raising activities		1,980,001		3,214,702

	Sub-total of cash outflow from fund raising activities		20,771,576		23,769,047

	Net cash flow from fund raising activities		1,710,106		1,291,528

4.	Effect of changes in exchange rate on cash and cash equivalents		-20,903		-21,209

5.	Net increase in cash and cash equivalents		3,629,424		2,736,685
	Add:Balance of cash and cash equivalents at the beginning of the period		3,078,228		1,735,248

6.	Balance of cash and cash equivalents at the end of the period		6,707,652		4,471,933

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

Officer-in-charge of the accounting department: Wu Yongliang

– 19 –

4.3

Cash flow statement of Parent Company

Jan to Sept 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

				Amount from
		Amount from		the beginning of
		the beginning of		last year to
		the year to		the end of the
		the end of the		reporting period
		reporting period		of last year
	Item	(Jan to Sept)		(Jan to Sept)

1.	Cash flow from operating activities:
	Cash received from sales of goods and provision of labour services		42,512,088		34,003,892
	Refund of taxes received
	Other cash received relating to operating activities		623,444		473,148

	Sub-total of operating cash inflow		43,135,532		34,477,040

	Cash paid for purchase of goods and receiving labour services		24,691,077		22,375,664
	Cash paid to and for employees		5,161,178		4,147,591
	Taxes paid		1,424,496		1,233,723
	Cash paid for other operating activities		588,656		3,463,658

	Sub-total of cash outflow from operating activities		31,865,407		31,220,636

	Net cash flows from operating activities		11,270,125		3,256,404

– 20 –

4.3

Cash flow statement of Parent Company (Cont'd)

Jan to Sept 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

				Amount from
		Amount from		the beginning of
		the beginning of		last year to
		the year to		the end of the
		the end of the		reporting period
		reporting period		of last year
	Item	(Jan to Sept)		(Jan to Sept)

2.	Cash flow from investment activities:
	Cash received from disposal of investment		56,426
	Investment income in cash		381,492		92,101
	Net cash received from disposals of fixed assets, intangible assets and other long- term assets		128,428		422,381
	Net cash recovered from disposal of subsidiaries and other operating units
	Cash received from other investing activities		266,479		372,165

	Sub-total of cash inflow from investment activities		832,825		886,647

	Amount paid in cash in relation to purchases of fixed assets, intangible assets and other long-term assets		8,268,453		8,377,850
	Investments paid in cash		2,171,500		724,981
	Net cash received from subsidiaries and other business units
	Other cash paid for investing activities				212,825

	Sub-total of cash outflow from investment activities		10,439,953		9,315,656

	Net cash flow from investment activities		-9,607,128		-8,429,009

– 21 –

4.3

Cash flow statement of Parent Company (Cont'd)

Jan to Sept 2011

Prepared by: China Eastern Airlines Corporation Limited

Amounts expressed in RMB’000

Unaudited

				Amount from
		Amount from		the beginning of
		the beginning of		last year to
		the year to		the end of the
		the end of the		reporting period
		reporting period		of last year
	Item	(Jan to Sept)		(Jan to Sept)

3.	Cash flow from fund raising activities:
	Proceeds received in cash from investments
	Cash received from borrowings		16,077,342		17,857,686
	Proceeds received in cash from bonds issuance
	Other proceeds in cash from fund raising activities		955,185		1,272,405

	Sub-total of cash inflow from fund raising activities		17,032,527		19,130,091

	Cash paid for repayment of indebtedness		15,177,401		10,370,450
	Cash repayments for distribution of dividends, profits or payments of interest expense		1,076,000		893,906
	Other cash paid for fund raising activities		2,267,041		2,939,170

	Sub-total of cash outflow from fund raising activities		18,520,442		14,203,526

	Net cash flow from fund raising activities		-1,487,915		4,926,565

4.	Effect of changes in exchange rate on cash and cash equivalents		-17,335		-15,428

5.	Net increase in cash and cash equivalents		157,747		-261,468
	Add: Balance of cash and cash equivalents at the beginning of the period		851,283		1,118,230

6.	Balance of cash and cash equivalents at the end of the period		1,009,030		856,762

Legal representative of the Company: Liu Shaoyong

Officer-in-charge of accounting: Ma Xulun

Officer-in-charge of the accounting department: Wu Yongliang

– 22 –

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		China Eastern Airlines Corporation Limited
		(Registrant)

Date	October 31, 2011	By	/s/ Luo Zhuping
			Name: Luo Zhuping
			Title: Director and Company Secretary